GBP/NZD Simple Formation

Keeping it simple, GBP/NZD broke the ascending channel and is currently retesting it. Additionally, we can see that the price may have finished 5 waves up and started with its intermediate corrective cycle. Thus, staying below the trendline will be an amazing opportunity to sell GBP/NZD.

Our first target is 1.94100. Breaking below it will signal a great continuation to the downside towards 1.90000 and even lower medium to long-term.