Hey guys looking at a potential buying opportunity on the Great British pound New Zealand
dollar. As I do my top down analysis starting from the weekly time frame. This pair is in a
ascending Channel formation that is not complete. As I move down to the Daily time frame price
has made an upward movement maybe looking to make a third touch at the top of this weekly
Channel. But price is currently in consolidation. Price within this consolidation has also formed a
descending Channel which is why I'm looking to buy this pair. If some type of rejection appears
on the 1 hr at the low around the $1.99 range I will buy.
dollar. As I do my top down analysis starting from the weekly time frame. This pair is in a
ascending Channel formation that is not complete. As I move down to the Daily time frame price
has made an upward movement maybe looking to make a third touch at the top of this weekly
Channel. But price is currently in consolidation. Price within this consolidation has also formed a
descending Channel which is why I'm looking to buy this pair. If some type of rejection appears
on the 1 hr at the low around the $1.99 range I will buy.