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GBPNZD: Staying Short Below 1.9670
On Tuesday I wrote about the potential for GBPNZD to weaken further below 1.9660. The pair was about to close the day below rising wedge resistance. It was significant given how GBPNZD had broken to the upside of this level back on May 1st. As I’ve written many times on this site, topside breaks of ascending levels rarely last for very long. As you can see, the GBPNZD was no exception. I was even alerting members to my plan to short the pair as soon as it broke higher earlier this month. Since Tuesday’s post, GBPNZD has lost just over 100 pips. That isn’t much for this cross, but the market is still holding ... (full story)