FX:GBPNZD   British Pound / New Zealand Dollar
I expect price to continue upward at least to retest the last minor high. I still find the NZD to be relatively weak and the GBP strong enough to continue up the fork.
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Comments

Possible scenario?
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ForceFollower HamzaLeith
It's possible. But now I expect it to test the lower border of the horizontal range.

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HamzaLeith ForceFollower
yes GBPUSD keeps falling as well!
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Aren't you worried about the expected rise in Interest Rates for NZD on wednesday. Or do you just view that as noise?
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Could just be noise..... NZD has been really weak lately while continuing to raise rates.
+1 Reply
I see this as a good play. If you're looking at horizontal support and resistance (hourly time frame), you'll see that 9757 (where it is now) is a spot of pretty good resistance. If it clear this resistance (which I think it will) I think your forecast will be dead on. Good Analysis
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ForceFollower TradersClassroom
Thanks. :) Yeah, lots of multi-pivot lines, both horizontal and sloped. Thus lots of trading opportunities. :)
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TradersClassroom ForceFollower
How do you feel about the Kiwi later this week? NZD is expected to increase rates on Thursday (Wednesday for the US) by 25 points.
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ForceFollower TradersClassroom
I think this interest rate rise may be already priced in by the markets. It will be no surprise to anyone.
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