© Dukascopy Bank SA
GBP/NZD is entering the apex of ascending triangle pattern, that started to form on 15th of August. The pair plummeted of 13th of August ; however, since then the Pound has been appreciating moderately. GBP/NZD volatility has dropped to the lower levels and also the 1H and daily technical studies are neutral, even though the pair has reached the apex of ascending triangle and the break-out should be just around the corner. Therefore, it is rather likely that we will see some consolidation around the current levels, ahead of the break-out, which is more likely to be to the upside. Moreover, the pair's sentiment is neutral as well (51.29% bullish).
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