GBP/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Despite the fact that the pattern is only 33 bars long, both trend-lines forming it proved to be reliable in defining fluctuations of GBP/NZD. Just now the pair has encountered an up-trend support at 1.9544, meaning that it is expected to recover up to 1.9761, where the upper boundary of the pattern should be hit along with the daily R1 and 200-period SMA.
On the other hand, while the technical indicators are showing mixed signals, the traders' sentiment is strongly bearish—74% of open positions are currently short.

© Dukascopy Bank SA
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