JGSmith123

GBPNZD Trying to Push Higher

FX:GBPNZD   British Pound / New Zealand Dollar
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The FX:GBPNZD has been working for a while to break out of this consolidation pattern that it has been in. Getting a solid close above this resistance zone could lead to a move to the recent highs. Of course, Brexit woes play in to this and so it is not recommended to put much leverage on any GBP related currency pair at this time. With a very small trade size, and a solid break above resistance, we could see a nice trade.

Conversely, a break of the ascending trendline could be all that is needed to see another drop in this currency pair, allowing for a small short trade to make some nice profits.
Yes, the GBP NZD been trying to grind higher been stuck in some trades since Nov. Caught some of the bottom in December and should have let it ride. Key will it break through this resistance in coming weeks.
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@Kuch, Keep me posted on your trade. I'm very curious to see what happens with it.
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