GBPNZD: Trend-Following Trading Setup

Long

British Pound / New Zealand Dollar (OANDA:GBPNZD)

OANDA:GBPNZD British Pound / New Zealand Dollar

cupandhandle supportandresistance candlestick gbpnzd pound newzealanddollar gbp nzd forex priceactionanalysis priceaction

GBPNZD formed a classic cup & handle formation.
The market is trading in a long-term bullish trend.
The neckline of the pattern is the only obstacle for the buyers now.
Its breakout will initiate a trend-following movement to new highs.

Daily candle close above 2.075 will confirm the violation.
A bullish continuation will be expected then to 2.085

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GBPNZD: Trend-Following Trading Setup

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