GBP/NZD Technical Analysis: bearish ranging near bullish reversal
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, 05-05-2016 at 03:16 AM (884 Views)
Daily price is on ranging bearish located near and below Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price is trying to break symmetric triangle pattern to above together with Senkou Span line for the bullish reversal of the price movement.
If the price breaks 2.1121 resistance level on close daily bar so the bullish reversal will be started.
If the price breaks 2.0355 support level to below so the primary bearish trend will be continuing.
If not so the price will be on ranging within the primary bearish.