LearningFX

GBPNZD facing rejection at resistance..

Short
FX:GBPNZD   British Pound / New Zealand Dollar
You could wait for better R:R, I know I will. It seems to face rejection at this level and looks like a great short at this point, you can short right now too but the risk is hgh at the moment. A break below 1.6954 would also validate this idea, which has been support for the past few days.

http://www.learningfx.com

Comments

Took about 64 pips on the ride down.. got stopped at break-even and re-entered 1.97430.. glad I did!
Reply
Took +20 pips off my weaker short at 1.69672 .. letting the other ride.
Reply
Shorted some at 1.97176 and 1.97416. Is a pain commenting here from a cell.. took me a long time.
Reply
I've been watching this pair since May 15th. Here's my analysis, to be honest not sure by now...
Reply
emperius emperius
What a dense pair. The amount of movement over the week have out performed others combined.
Reply