I think GBPNZD is a good pair to trade given the valuation differntials of the two currencies. NZD wants to fall and GBP is is undervalued.
The pair is the MOST undervalued pair relative to the major pairs and the GBP trade-weighted value.
It is worth about 2.50ish or so, fundamentally. It would make a good "buy-and-hold" trade for me, which is why I took the trade with a 100 pip stop.
#1: Brexit . I did mention that the upcoming House of Lords and House of Commons "agreement in March 2017 for hammering the market is still causing uncertainty still. It makes GBP harder to trade. However, if we can good sell of in the NZD (FINALLY), then we can rest in this "hard-to-long-term-trade" market. I have been scalping. Hey, I even lost a long holding on a weekly, but that is the risk as a trader. Next Trade!
BUT WAIT?! I thought Brexit happened already. See my notes on GBPUSD:https://www.