Trade Alert
If this gets a follow through and we see GBPNZD closing above the 2.0000 hurdle, or even better, the 2.0035 barrier, we could then start positioning ourselves for higher levels. In the longer-term, we could see the pair traveling all the way to the 2.0700 zone, marked by the highs of the 24th of June 2016.
Alternatively, for us to get comfortable with the downside from the shorter-term perspective, we would need GBPNZD to drop below 1.9865 in order to consider a slide towards 1.9640, or even the 1.9555, marked by the low of the 21st of September.
Always have your SL in place.
If this gets a follow through and we see GBPNZD closing above the 2.0000 hurdle, or even better, the 2.0035 barrier, we could then start positioning ourselves for higher levels. In the longer-term, we could see the pair traveling all the way to the 2.0700 zone, marked by the highs of the 24th of June 2016.
Alternatively, for us to get comfortable with the downside from the shorter-term perspective, we would need GBPNZD to drop below 1.9865 in order to consider a slide towards 1.9640, or even the 1.9555, marked by the low of the 21st of September.
Always have your SL in place.