Shorting GBP/NZD three profit targets marked.

Short

British Pound / New Zealand Dollar (FX:GBPNZD)

Updated

FX:GBPNZD British Pound / New Zealand Dollar

I think GBP is going to face some weakness but was most convinced by this pair because of the 100% retracement earlier compared to only approx 90% on other pairs. I think we just saw a spike above the previos high and I can see some struggling buyers. my Risk reward is 3/1 6/1 and 10/1 on the three separate positions with my stop loss above recent high/spike.

Comment:

I have seen divergeance with macd. I could be entering too soon. lets see how this goes. i am worried we might reach the 0.97500 level before a further down move.

Trade active:

Moving stops to break even due to the bad news / terror attack in NEW ZEALAND.

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