GBPNZD Possible Selloff Pending????
GBPNZD looks like it may be settingup a short opportunity. Channel is pretty clean given how volatile this pair can trade.
1) Bulls attempted failed breakout to the upside.
2) Triggered a sell off all the way down to channel support.
3) Price unable to secure support above channel heart--line.
4) Bears attempt to break through channel support. (False breakout)
5) Bulls again unable to sustain break above channel heart--line. Double top formed. Lower high = Bearish confirmation.
6) A move back down to re-test channel support?????
A selloff in this pair would be confirmation that selloff in EURNZD will follow.
GBP coiling up expect a breakout in the very near future.... ;)
GBP Equally weighted index.
1) Bulls attempted failed breakout to the upside.
2) Triggered a sell off all the way down to channel support.
3) Price unable to secure support above channel heart--line.
4) Bears attempt to break through channel support. (False breakout)
5) Bulls again unable to sustain break above channel heart--line. Double top formed. Lower high = Bearish confirmation.
6) A move back down to re-test channel support?????
A selloff in this pair would be confirmation that selloff in EURNZD will follow.
GBP coiling up expect a breakout in the very near future.... ;)
GBP Equally weighted index.
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