CHARTVIPER

A Falling Wedge has formed, and GBP/NZD is approaching resistance. Should we expect a breakout and the start of a new trend, or a reversal?

Possible breach of the support level for GBP/NZD
GBP/NZD is heading toward the support line of a Falling Wedge pattern and could reach it within the next 3 days. It has tested this line numerous times before, and this time may be no different, ending in a rebound instead of a breakout. If a breakout doesn’t occur, we could see a retracement back to current levels.

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