GBPNZD play within channel

25 Mar 2016

price is caught in between channels. long term descending trendline holding prices down, while a smaller developing ascending channel is trying to push prices up. Price is touching the bottom of the ascending channel, and showing signs of a small reversal. Looking to go long until it hits a key minor resistance level at 2.125 and watching PA from there. If it breaks above, then look to go long again, if it doesn't then, short to a possible break to the downside.

28 Mar 2016

Not

Watch price action here..on the 1H, price broke through the top of the range, but being stalled at another resistance level. Showing hints of a move to the top side. In addition, NZDUSD looks like it may move to the downside from here, which would push up GBPNZD.