On March 18th, I wrote about an ascending channel on GBPNZD. The pair was trading at 2.0300 at the time and was breaking down from a channel that extends from the July 2019 lows. That breakdown led to a 1,300 pip selloff. For the last 14 weeks, GBPNZD has had little to no direction. However, if you take a step back, it’s actually easy to spot what’s happening here. As you know from past GBPNZD commentary, we have a massive ascending channel in play from some of the 2016 lows. The pair has been catching a bid from channel support since July 2019. On top of that, GBPNZD has carved at least one lower high since it’s ... (full story)