GBPNZD - Intermediate & Longer term Bullish
I have publish my view on GBPUSD and whilst at the time when is was published it proved to be little too premature, I think it is still valid.
The GAP down open last weekend on GBPUSD I think formed the bottom like climax selling and which has held for whole week. Smaller time frame price action suggest minor 1 & 2 waves are nealy complete with new upward momentum should appear to the upaside as I suspect the Dollar Index is approaching possible top near 82 -82.2 level. Accordingly I was using GBPUSD to possible bottom to actually stalk long trade in GBPZND or GBPAUD. Well here is the H4 chart of GBPNZD suggesting possible inverted H&S pattern which could also trigger long term swing trade to the upside.
The GAP down open last weekend on GBPUSD I think formed the bottom like climax selling and which has held for whole week. Smaller time frame price action suggest minor 1 & 2 waves are nealy complete with new upward momentum should appear to the upaside as I suspect the Dollar Index is approaching possible top near 82 -82.2 level. Accordingly I was using GBPUSD to possible bottom to actually stalk long trade in GBPZND or GBPAUD. Well here is the H4 chart of GBPNZD suggesting possible inverted H&S pattern which could also trigger long term swing trade to the upside.