Several factors pointing to a potential turning in this pair, but also waiting to see a few things happen. First what we see on the chart confirming bullish reversal bias:
- Harmonic Crab pattern
- Fresh demand level
- 4 month trend line support test
- High volume node
Now looking at the XAUGBP pair, we see price bouncing off a support turned resistance level and heading down, which is in turn an appreciation of the pound, wich further confirms long bias. However, The XAUNZD pair has yet to show a bounce off the support level which would further confirm this trade idea. If that gold/nzd pair turns back to the upside, im looking to buy GBPNZD.
- Harmonic Crab pattern
- Fresh demand level
- 4 month trend line support test
- High volume node
Now looking at the XAUGBP pair, we see price bouncing off a support turned resistance level and heading down, which is in turn an appreciation of the pound, wich further confirms long bias. However, The XAUNZD pair has yet to show a bounce off the support level which would further confirm this trade idea. If that gold/nzd pair turns back to the upside, im looking to buy GBPNZD.