As you’d expect, GBPNZD is another currency pair taking a downfall. With a confirmed short term downtrend and a break in its original uptrend. This is the second most recent attempt at testing the 2.09324 floor.
Reasons to take:
- Price has broken the support floor of my descending triangle establishing a new lower low
- Price is below the EMA100
- Momentum is negative - although not currently down facing
- Stochastics are below 50, facing downwards, oversold and %D is over %K
Entry: 2.09354
SL: 2.10064
TP: 2.04500
Reasons to take:
- Price has broken the support floor of my descending triangle establishing a new lower low
- Price is below the EMA100
- Momentum is negative - although not currently down facing
- Stochastics are below 50, facing downwards, oversold and %D is over %K
Entry: 2.09354
SL: 2.10064
TP: 2.04500