Lingrid | GBPNZD breakout of the UPWARD channelThe market bounced off the resistance zone, making an impulse move. FX:GBPNZD reached a strong weekly resistance and formed a bearish candle, which suggests that the market is most likely to pullback toward the support level. The market failed to make a new high after three attempts to break the resistance zone, which indicates the bulls are running out of breath. I expect the market to fall from the local resistance zone toward the support level and breakout of the upward channel. My goal is a support level of around 2.07000
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