Pika7993

Pivot off Psychological Resistance

Short
FX:GBPNZD   British Pound / New Zealand Dollar
This a great low risk trade set up as a breach of our psych resistance of 1.92000 will tell us long continuation.

This is a psychological level as we have seen pivots at this level since November.

Our MACD /SIGNAL lines are headed to cross 0 line to push RSI further away from overbought. NZD is currently taking gain in strength and sentiment which will help our indicators play out.

There are multiple take profits as each level serves as a strong pivot point . This is another trade to place sell stops below our supports in the case of continuation.

Please comment with thoughts and comments. Thank you.
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