GBP/NZD High Probability Short

2020年4月11日

The head and shoulders pattern is almost complete for this pair if we take a horizontal neckline. On top of this, New Zealand are releasing their Visitor Arrivals data, which will be down due to the current climate. However, there is a real chance these numbers could fall even lower than than forecasted, putting more downward pressure on NZD, further supporting this trade.

On top of this, the horizontal neckline assumption coincides with the 0.618 Fibonacci level, so breaking this support is definitely key.

Let me know what you think!