GBPNZD: Retest of the ascending channel?
As we can see GBPNZD has rejected support having broken through the long term ascending channel.
According to my chart we've not retested the channel yet (obvs this isn't always the case, but I would have expected it as it was a long term bullish trend), so I'm thinking it will.
As this is a retracement trade i'll be looking to TP before my resistance block just in case, but I'm thinking this will move higher before a drop down to at least current levels.
This also hedges against my planned GBPAUD trade in an earlier idea.
According to my chart we've not retested the channel yet (obvs this isn't always the case, but I would have expected it as it was a long term bullish trend), so I'm thinking it will.
As this is a retracement trade i'll be looking to TP before my resistance block just in case, but I'm thinking this will move higher before a drop down to at least current levels.
This also hedges against my planned GBPAUD trade in an earlier idea.