Resumption of uptrend for gbpnzd - Part 2

This pair still amazes me with its huge movement daily. I cannot remember the historical big moves so
I decided to go back and screen again. On 14th Sept 1992 a single day range was 3300pips and on 8th Oct 2008 (I believe it was Lehman Brother collapse) was 2700 pips! As of now, we are past mid-march for 2011 and the move is around 2400pips from the bottom so one can imagine the kind of movement on those kind of days.

Back to the chart.. I have adjusted the channel as the uptrend continues to develop. Currently it  might see slight pullback purely based on the new channel. The fibo level will be adjusted once a new high is formed in due time. The next realistic target level will be 2.400 which is around 2600pips from current level.  See also Part 1