Home Polls & Quizzes GBPNZD: Breakout towards the North or South?

GBPNZD: Breakout towards the North or South?

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GBPNZD after being very bullish on the H4 chart seems to have found a level of resistance. The price had rejection twice from that level. Thus, this would be considered as a double top if a breakout takes place at the neckline. On the other hand, the daily chart shows that there is enough space for the price to travel towards the North.

Thus, it may not make a downside breakout to produce a double top. It may rather make an upside breakout and head towards the North. Let us have a poll on this.

Scenario 1: The price will head towards the downside by making a breakout towards the South.

Scenario 1: The price will head towards the upside by making a breakout towards the North.

Breakout towards the North or South?

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