GBP/NZD is heading towards the support line of a Falling Wedge and could reach this point within the next 5 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels. Supported by Downward sloping Moving Average
Chart 1 hour
Pattern Falling Wedge
Length 31 Candles
Identified 07-Sep-2022 18:00 UTC