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wookyu2001

GBP/NZD BUY

Long
British Pound / New Zealand Dollar (OANDA:GBPNZD)  
wookyu2001  
OANDA:GBPNZD   British Pound / New Zealand Dollar
Trend Analysis Chart Patterns Technical Indicators GBPNZD gbpnzdlong gbpnzdbuy gbpnzdanalysis Ascending Channel
4
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trendanalysis chartpattern indicator gbpnzd gbpnzdlong gbpnzdbuy gbpnzdanalysis ascendingchannel
GBP/NZD has been in an uptrend, respecting the ascending channel since the beginning of the year

Currently the price is almost touching the bottom trend line (retracement).

I expect the price to show a reversal, with the buyers taking control of the market, increasing the price and continuing the ascending channel.

I will wait for a clear rejection of this trend line for a conformation and enter the trade. The expected movement is shown by the grey path drawn.
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