GBPNZD
TF: Daily
Technical Analysis:
Price has moved back down to daily78.6 fib level which happens to fall on a weekly level or resistance turned into support, possible daily double bottom in play. Price Action over the next two days should be observed in order for us to execute longs. Ideally a break of trendline resistance, with a retest as support will give us a best entry
Fundamental Analysis:
Brexit fears looms over all GBP pairs but that can't distract us from trading what we see on the charts. Ideally we can decrease our risk exposure over GBP pairs but it would be stupid to avoid GBP pairs all together.
Targets: 2.2300
Invalidation:
A break and close below 2.06-05 area would invalidate this trade setup
TF: Daily
Technical Analysis:
Price has moved back down to daily78.6 fib level which happens to fall on a weekly level or resistance turned into support, possible daily double bottom in play. Price Action over the next two days should be observed in order for us to execute longs. Ideally a break of trendline resistance, with a retest as support will give us a best entry
Fundamental Analysis:
Brexit fears looms over all GBP pairs but that can't distract us from trading what we see on the charts. Ideally we can decrease our risk exposure over GBP pairs but it would be stupid to avoid GBP pairs all together.
Targets: 2.2300
Invalidation:
A break and close below 2.06-05 area would invalidate this trade setup