GBPNZD: Will the Support Hold?

Weekly chart of GBPNZD and we are facing a critical level. If structure holds an explosive move up will be needed to break the previous multi-year support. If this zone of importance does not hold, likely to continue down to lower zone & along the trend line that has formed.

As always; don't trade assumptions. Wait for price to react to this level and then jump on the wagon.

Commentaire:

price seems to be bouncing in our original area. a break above and retest of the green would be needed for a long position to be opened.