mywc
Long

GBP/NZD expecting a breakout soon!! LONG SETUP!

FX:GBPNZD   British Pound/New Zealand Dollar
Will be watching this extremely closely,
Reasons for breakout:

a) we have a strong previous rejection at the 61.8% fibo level.
b) prices have retested that area last week and rebounded strongly.
c) MACD divergence in play
d) with the poor NZD news yesterday, i expect NZD to fall even more to retest recent lows near 0.63 level

A breakout and close above the trendline will certify that the pair is ready for a break upwards.

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Agree!
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