GBP/NZD Major Trendline Break

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GBP/NZD Major Trendline Break

The price of GBP/NZD broke the trendline in early Friday trading despite the UK bank holiday. The trendline has defined the bullish phase for almost one year.

At the same time, the price is reaching the 100 period MA which acted as support previously.

The lower highs on the daily chart since March 2020 may also indicate further bearishness to come.

 

 

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