GBPNZD - W Formation but very weak signal

W Formation has formed on the GBPNZD BUT it is a very weak signal.
The price action is clearly sideways and this traps a lot of traders into buying the breakout.
What tells me this is the LOW volatility which should signal a warning.
Also we have mixed signals with MAs 7>21 but <200MA
RSI >50 - bullish
Target 2.000

I call this a LOW probability setup and one I wouldn't actually take. But for the risk takers, they can with pleasure.