GBPNZD 4H Chart: Set for a breakout
The Pound Sterling has continued to surge against the New Zealand Dollar since the last time the pair was reviewed. However, there has been some negative development during this period.
The currency pair has been trading in a large-scale triangle after it hit the lower boundary on January 11. Also, the exchange rate has formed a new junior channel during this period.
Given that the GBP/NZD pair is currently trading sideways, traders should expect a breakout in either direction in near future. In addition, technical indicators favour a breakout south .
The currency pair has been trading in a large-scale triangle after it hit the lower boundary on January 11. Also, the exchange rate has formed a new junior channel during this period.
Given that the GBP/NZD pair is currently trading sideways, traders should expect a breakout in either direction in near future. In addition, technical indicators favour a breakout south .