Technical update for GBPNZD ahead of monthly closing
On our previous technical comment on the GBPNZD pair (published on May 11), we have discussed the bigger picture for the pair, using monthly chart.
We are on the last day of May and thus, we examine the same interval where we can see the GBPNZD stability above the confirmation line of our suggested saucer pattern-rounding bottom pattern.
With a closing above this level, the pair will prove the ability to draw a new leg higher, reinforced by the positive signs on Aroon, RSI14 indicators and breakout above the upper line of Bollinger bands.
To recap, our bullish outlook remains intact and traders can keep their long positions, aiming to challenge the theorical objective of the reversal classical pattern, which resides in the major resistance regions of 2.2540.