GBPNZD pulled back at 38.2% Fibonacci retracement . we see a break in down trend bias with some bullish divergence hopefully to enter on retracement. we may see this reverse or just consolidate, either way a good trade to go LONG.
added on those Fibonacci retracements, and oh boy did we made some dough tonight.. will start to unload at 38.2% retracement..
I think it is retracing now we should wait to see if it retraces to 50% Fib or 61.8% which is better for going long.Uk GDP and NZ new information this week will make a big difference in my view whether it will retrace more or continue the uptrend.