FX:GBPNZD   British Pound/New Zealand Dollar
28 0 0
I would call it reversal here ladies and gentleman. Weekly and daily prints are screaming. I have posted Cup & Handle pattern in one of previous editions, target got hit, the price retraced. Reversal started after multiple bottom at ~1.3960 and what we have here, already in play, is this giant triangle breakout targeting 2.0310. I would look for 1H TF breakout to join the super speed train towards first supply at 2.0230 as target 1. Let me remind you that “tight SL” never works here. I really have no idea how “tight SL” was invented in the first place ( probably because of the fear of the loss by some Forex king, guru, fortune teller or something ). SL has to be where it has to be, if you cannot afford it – please do not take the trade.
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