GBP/NZD 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A formation of the triangle pattern by GBP/NZD started in mid-October; the pattern has lasted for 117 hours already but is likely to be breached in the following hours as the pair almost approached the apex. Currently, GBP/NZD is vacillating slightly below the pattern's support, suggesting that the breakout may have occurred, especially given the proximity of the apex. If it proves to be true, the Pound is likely to witness an accelerating decline against the New Zealand Dollar in the hours to come. However, market sentiment gainsays this, showing that more than 70% of traders are bullish on the pair.
© Dukascopy Bank SA
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