GBP/NZD 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/NZD will reach the apex of a 94-bar long ascending triangle pattern in a few hours, suggesting that the breakout is looming. Now the pair is following a upward trend and considering the SWFX data-almost 60% of all orders are placed to buy the pair-the upcoming exit may be bullish. Technical data also props up this view. If this comes true, GBP/NZD is likely to jump above the formidable resistance at 1.9772 (pattern's resistance; daily R1) that may give the pair's enough strength to overcome 1.9780/805 (four-hour R2, R3; daily R2) and 1.9833 (daily R3), above which we are likely to see a sharp rally of the pair.
© Dukascopy Bank SA
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