LONG GBP/NZD from 2.0992.
GBP/NZD has crossed over the 200 sma and this gives us an ideal entry with a tight STOP.
The GBP has been under the cosh for much of 2016 and its possibly time for a bounce and this is a fast moving pair with a large daily range.
The risk/reward on this trade is off the scale as we are still well short of the 23.6 level of the Monthly range of the entire chart so the room higher is huge.
Well worth a LONG trade from these levels.
GBP/NZD has crossed over the 200 sma and this gives us an ideal entry with a tight STOP.
The GBP has been under the cosh for much of 2016 and its possibly time for a bounce and this is a fast moving pair with a large daily range.
The risk/reward on this trade is off the scale as we are still well short of the 23.6 level of the Monthly range of the entire chart so the room higher is huge.
Well worth a LONG trade from these levels.