GBP/NZD: 4-hour
Here’s another potential triangle play for those interested in trading the pound crosses! GBP/NZD has been forming lower highs and finding support at the 1.9400 major psychological level, creating a descending triangle pattern on its 4-hour forex time frame. Price seems to be testing the floor at the moment while stochastic is climbing out of the oversold area, suggesting that another move higher is possible. If buyers are strong enough, they could push for a break above the triangle resistance around the 1.9500-1.9550 levels.
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