Call update - GBP/NZD to continue grind lower, target 2.0656

GBP/NZD downside taking a breather at 2.087 levels, pair has edged higher on the day to currently trade around 2.09 levels.

But downtrend in the pair still intact, momentum studies are bearish, tests of 2.0656 likely.

Lower trailing stops to 2.11, target 2.0660

Trade active:

GBP/NZD extends grind lower, breaks below support at 2.05651.

The pair has at the moment pared some losses and is currently trading around 2.0663.

No signs of reversal, Techs show scope for further downside, 2.0458 next likely bear target.

Lower trailing stop to 2.080, target 2.0460

Comment:

Correction: pair broke support at 2.06561 (not 2.05651)