What we're seeing in GBPNZD is the break of an older trendline, one that's held for a good few months. However, as it's wedging, it's time for out with the old and in with the new. SO, what do we say??
GBPNZD is now bearish, I am looking for a downward push to 1.95, then a possibility of a retrace to 2.06 before another large drop.
However, that's a bridge we'll cross when we get there. But I am confident of a bearish push, down to 1.95.
Please share your views, like and comment and even give me a follow :)
Thanks, Roo.
Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Please be patient and react to the market, do not try to act for it. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.