I've been jumping into shorts on this pair on the basis that an ABCD pattern has been forming.
I rarely trade these patterns as I don't spot them as often on higher timeframes and yet this one grabbed me a couple of weeks ago and figured an update was worth while.
Here I believe that overall the pound is weak, the kiwi dollar is gaining some ground in the basket of commodity currencies and therefore I believe there is still a short in play to where the D section of the line ends as an overall correction in the GBPNZD
I rarely trade these patterns as I don't spot them as often on higher timeframes and yet this one grabbed me a couple of weeks ago and figured an update was worth while.
Here I believe that overall the pound is weak, the kiwi dollar is gaining some ground in the basket of commodity currencies and therefore I believe there is still a short in play to where the D section of the line ends as an overall correction in the GBPNZD
Comment:
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