We are also looking NZD longs this week and into the following weeks if price acts appropriately so looking to our cross pairs for potential opportunities and especially looking at the weaker currencies. This led us to look at GBPNZD
after it came into key weekly resistance. The GBP is under increasing pressure as BREXIT negotiation continue without any positive news for the UK so far although news of how the German manufacturing will be affected when the UK leaves the EU could go in favour of the UK with the EU likely to take this into consideration. However this is only speculation and we can see that the market has gapped lower this week and should see further downside. Ideally we would like to see the gap close before looking for shorts as we can see a minor resistance up at 2.0235. We would likely see sellers re-enter the market here with targets at the daily 50% fib retracement and support of 2.0000.