varietyjones

GBPNZD Medium to Long term

Short
FX:GBPNZD   British Pound / New Zealand Dollar
This pair has had an upward trend since 2017. This is amazing when you think of all the uncertainty surrounding Brexit. The blue trend line has been broken. Now we wait to see how far down will the break go. I have indicated important price points to keep an eye on. The GBP faces an unstable future until at least 31 October. Mr. Johnson (most likely next Prime Minister) will take over on 22 July. The markets have most likely taken his victory into account as he is clearly the favorite. Will he be able to avoid a no deal Brexit? Most of the time it seems not. If a no deal Brexit is announced there will be more instability. The GBP is set to make a huge rebound, but when? Soon I believe, next few months.
The NZD will follow the growth rate of China which has been slightly down.

For now I expect the pair to drop to the support line, get 31 October behind it and move up.

Make your own decisions. I am just sharing ideas.

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