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2024-04-03 00:30:00
A Price Action Falling Wedge pattern formation on the 5 Min time frame chart supports GBPNZD Bullish bias. A break of 2.10740 will support the rise towards the target of 2.10830 the break of 2.10830 would push the price to 2.10890.
SUPPORT AND RESISTANCE LEVELS
- Pivot Point 2.0967
- Support S1: 2.0957, S2: 2.0951 , S3: 2.0941
- Resistance R1: 2.0973 , R2: 2.0983 , R3: 2.0989
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Age 6 BarsFull view
Falling Wedge
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
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