GBPNZD `` CHANNELS
Downtrend captured within a descending channel.
It's "consolidation" is also captured within an ascending channel.
So that we have channel n channel, and now Price is around cross-section.
I expect a continuation of downtrend, down to 1.618 fibonacci level, which should sync to form a global Support level.
Alternatively, price may Short a bit, and breakout the descending channel - this will invalidate the above analysis.
It's "consolidation" is also captured within an ascending channel.
So that we have channel n channel, and now Price is around cross-section.
I expect a continuation of downtrend, down to 1.618 fibonacci level, which should sync to form a global Support level.
Alternatively, price may Short a bit, and breakout the descending channel - this will invalidate the above analysis.
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