ForceFollower
Short

GBPNZD Another Leg Down

FX:GBPNZD   British Pound/New Zealand Dollar
212 4 5
I expect another leg down to be starting now or very soon. I believe at this point the odds are with the sellers. The GBP has been strengthening of late and now is quite overbought, beginning a falling phase of momentum cycle. The NZD - exactly the opposite. So a decline in price of this pair is a reasonable expectation. There is yet that bull trend line though, which may exert some support on price, so, to eliminate the extra risk, you might like to wait for it to be broken first. However, if it fails, you'll know it very fast, as the setup will be invalidated as soon as price closes above the red down sloping sliding parallel.
Do you mean the top top red line, or line it's above now
Reply
ForceFollower FaultyKid
The top top red line.
Reply
Thanks! Took profit :)
Reply
So have I. :-)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out