munyaelliott

GBP/NZD DAILY TIMEFRAME SHORT

Short
FX:GBPNZD   British Pound / New Zealand Dollar
GBP/NZD has just broken out of the corrective structure to the downside, therefore we expect a further continuation to the downside over the next hours/days. Price formed a bearish flag pattern after a big impulsive move to the downside. The technicals of this trade are as follows:

Take Profit 1: 1.87247
Take Profit 2: 1.82568

"The definition of insanity is doing the same thing over and over again and expect different results" - Albert Einstein