Today GBP data is not significant. Nevertheless the GBPNZD has been Net Shorted since Asian session and now the price action break finally comes. I also expect the data to be bad so there is good chance the pair continue to drift downward.
I won't be taking full risk here given I've already have the USDCHF drift one, plus I want some room to play CAD news later in the day.
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Actually I put on short GBPCHF trade at 1/2R as well. Contrary to GBPNZD which is already net short..GBPCHF is net long so perhaps here if data came out bad more stops can be hit?
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Data came out good so my thesis is void. I'll be out for now.
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Uhm..actually now that the "good news" is out of the bag..there should be nothing hindering further push on GBPNZD. If the candle close below the break point of 1.842 I may enter again.