GBPNZD: Expanding Wedge

GBPNZD, Daily

In the Daily timeframe, GBPNZD fell towards the lower trendline of the expanding channel. Price is testing support and has crossed the lower Bollinger line, indicating a possible rebound. However, the AO indicates that the bearish momentum is gaining strength.

• A trendline break below 2.1760 will drop GBPNZD to 2.1470;

• A rebound from the trendline will bring the price back to 2.2100;