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Short

GBPNZD Daily Chart (17 March, 2016)

FX:GBPNZD   British Pound / New Zealand Dollar
52 0 4
Bearish Engulfing formed at the channel resistance. Notice in the daily chart above, we have a market that is making lower highs and lower lows, this represents a descending equidistant channel. We looking for a chance to sell the pair to trade with the direction of the equidistant channel. Once the sell is trigger, we would set our target at the latest horizontal support.
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