ClearEdgeFX

GBPNZD - 12H - TREND EXHAUSTION?

FX:GBPNZD   British Pound/New Zealand Dollar
43 0 3
This pair moved an incredible 2,000 pips since the last week of April (six weeks ago). As we can see not surprisingly the momentum is beginning to slow down and we could be entering a consolidation zone in the near future. Should we see a break of the trendline then we'd likely go short targeting the 2.10 level. That said, any bullish bounces from the trendline are good opportunities to go long targeting recent highs. This one still could go up a bit.
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