As we can see GBPNZD has approached a liquidation zone. GBP is dropping in value for the last couple of weeks and NZD looks like it will turn bullish. The pair is highly overbought and candlestick patterns have already confirmed that bearish reversal is very likely. Thus, our hypothesis is that the pair will have a bearish reversal. We suggest the following:
Entry: 2.02-2.03
SL: 2.05 or higher
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Entry: 2.02-2.03
SL: 2.05 or higher
If you like this idea please like it and follow us for more awesome ideas! Feel free to share any comments you have!