In addition to signs of NZD weakness on other pairs, we're seeing this very nice technical setup on GBPNZD: the pair is in an uptrend, but has pulled back to a support level
that coincides with a 61.8% Fibonacci retracement
level from the recent swing low to swing high. Today's strong bullish
candle suggests bulls may be defending this level. As such, I'm set to go long at 2.0032, with my stop at 1.0098 and my target profit at 2.1002 -- a very nice reward/risk of over 6.92.
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