GBP/NZD Price Analysis: Bulls stepping up to test bearish commitments
|- GBP/NZD is on the verge of a breakout to the upside,
- The bulls are testing the critical dynamic and horizontal resistance.
The cross has been trying to move higher out of the consolidation confinements of the symmetrical triangle. The current attempt is a 4th attempt to break free of the choppiness.
Hourly chart
15-min chart
The price has already broken the dynamic resistance and is now testing commitments at the prior highs looking left.
A break of this horizontal resistance followed by a retest that holds could be a signal that the cross is on the verge of extending the daily bullish trend.
Daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.