Search ForexCrunch
  • GBP/NZD is on the verge of a breakout to the upside,  
  • The bulls are testing the critical dynamic and horizontal resistance.  

The cross has been trying to move higher out of the consolidation confinements of the symmetrical triangle. The current attempt is a 4th attempt to break free of the choppiness.

Hourly chart

15-min chart

The price has already broken the dynamic resistance and is now testing commitments at the prior highs looking left.  

A break of this horizontal resistance followed by a retest that holds could be a signal that the cross is on the verge of extending the daily bullish trend.  

Daily chart