GBPNZD has just recently broken out of a down pennant formation near a significant low. This shows the market lacks the necessary strength to push through the support area. Also after breaking the upper containing trend line the market started to move sideways forming a congestion area(green rectangle). This provide a good risk reward ratio for entering the market on the long side.A stop loss should be placed just below the congestion area and the take profit should be where the most recent swing high and the beginning of the pattern are(blue rectangle area).
