Possible short position on GBPNZD. Amid Brexit talks which have resulted in the delay of Brexit by another 3 months, GBP could weaken further while the ever growing NZD becomes stronger by the day. Both 200 and 50 EMA are showing signs of a short bias on higher time frames but in the middle of the price on lower time frames so could lead to a long term short bias. There has been a trend line channel for the past month or so which was recently broken to the down side and due to a clear pull back to the trend, I believe further decline will be incoming. I won't be following this pair closely in the coming days but just thought it would be interesting to see where this chart is headed. FX:GBPNZD
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Trend line channel has been ongoing for just over 2 years not a month!