FxWirePro
Short

GBP/NZD breaks trend line support ,targets 2.2700

FX:GBPNZD   British Pound/New Zealand Dollar
288 3 4
GBP/NZD has formed descending triangle pattern but not able break the major triangle resistance 2.4025.

Any break above 2.4025 only confirms further bullishness, a jump till 2.45 (161.8% retracement of 2.4027 and 2.3147)/2.53 (161.8% projection of 2.4027 to 2.2699 from 2.3155)

It has broken major trend line support as Russia partially lifts dairy ban on Newzealand dairy. Russia has now decided to allow 29 New Zealand companies to sell dairy products to Russia.

On the downside major support is around 2.3500 and break below targets 2.3150/2.2699.

It is good to sell on rallies around 2.3625-50 with SL around 2.4025 for the TP of 2.270
Nightwish
2 years ago
Support is still valid on my chart, your TL support is thick and not accurate, but I like the idea.
Reply
FxWirePro PRO Nightwish
2 years ago
Ok i will put thin trend line from next time
Reply
discman24
2 years ago
idea is good, but kind of difficult for SL to be the same as the TP.. ;p
Reply
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