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KennTrade

GBPNZD short

British Pound / New Zealand Dollar (FOREXCOM:GBPNZD)  
KennTrade Updated   
FOREXCOM:GBPNZD   British Pound / New Zealand Dollar
7
2
GBPNZD is breaking a 4 hour Head & Shoulders pattern. Measured move of the head to neckline reaches a target of 1.8330. Recommend you short strength in this pair.
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Comment:
GBPNZD short is nearly 2/3rds of the way to the target area and is running into round number and Fib resistance. The pair bounced this morning near 1.8400 and is pulling back to the long term 23.6% Fib level. If you decide to stay in this trade, (right now there isn't a printing of a higher low / higher high) there is event risk on the calendar; NZD data at 1845 Eastern Time (U.S.)

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