Pound has been extremely strong compared to the Kiwi since mid April. After a massive run up, we are showing signs of weakness. This could be a temporary stalling but it also could be the pair getting reading to breakdown. We have not broken below the channel but look to have a chance to complete a head and shoulders
. Head and shoulders
patterns are reversal patterns. A break below the neckline would project a move back to just below 2.20.
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