GBP-NZD weekly technical analysis

Pound New Zealand is trading within two bearish channels. Main channel descending on H4 and main main channel descending on H1. The pair reached H4 at the edge of the lower channel, trying to positively gather to take a positive momentum to rise again to reach the upper channel rib.

Traders can take long positions as long as the prices are inside the channel and center on the lower side while maintaining the stop loss below the channel. Buying positions can also be taken from the lower side of the descending channel on H1 in what is known as consolidation centers while maintaining a stop loss for all positions below the channels appropriately.

General Direction: Bullish inside the canal from the lower side