On several British Pound Forex pair, an ascending trend line on the daily time frame is on play. With them approaching the bottom of the bottom, are they to bounce or are they to break?
In GBPNZD, we can see the it is consolidating at the bottom of the ascending trend line (possibly poised for a retest of the broken weekly descending trend line) which made it form a double bottom. However, if you look at the behavior of this Forex pair, it consolidates above a support (boxed) before descending strongly... did it twice.
Watch for a signal to go long or short!
In GBPNZD, we can see the it is consolidating at the bottom of the ascending trend line (possibly poised for a retest of the broken weekly descending trend line) which made it form a double bottom. However, if you look at the behavior of this Forex pair, it consolidates above a support (boxed) before descending strongly... did it twice.
Watch for a signal to go long or short!