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Chartistics
Oct 19, 2015 8:51 AM

GBPNZD Short bias Short

British Pound/New Zealand DollarFXCM

Description

GN has been in a bearish channel for several weeks now, after exiting its bullish channel.
Price is currently at channel resistance, given the right Price action a tight stop can be used here to short with targets of 2.24

Given the channel resistance holds, I will watch how price reacts around my 2.24 target. As my overall target for this pair is monthly support @ 2.1. This could present a nice opportunity to short and hold given that the channel isn't broken.
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