GBP/NZD Head & Shoulder pattern formation
The Right shoulder seems to be starting to form. We will then expect a drop when it reaches the resistance line that has been indicated on the chart.
Note
Price is currently testing the neckline and we are anticipating a bullish move and a bounce that will signal a bearish turn-around.Note
If we're lucky enough, Price might reach a second target of around 1.89000.Note
Signal is still long until it reaches close to our are of resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.