GBPNZD has been ranging within an ascending equidistant channel. The price has been heading towards the North with an ABC pattern within the rising channel. The price had rejections from the upper band (resistance) twice.
The buyers may come out with their profit once the price hits the resistance level. On the other hand, the way today’s price action has been going, it may as well make an upside breakout. A question may be raised here whether the resistance level will be held or not. Let us have a poll on this.
Scenario 1: The resistance level will be held and the price head towards the South again.
Scenario 2: The resistance level will not be held and the price head towards the North.
