It has been almost 3 weeks that GBP has not been able to make a higher high on the average weighted chart. The chart below show the GBP average weighted against the other 7 majors. See how the price is struggling to make a higher high as it touched the upper band of the long term wedge. I expect GBP to be weaker in the next a few weeks and this is what we need for our GBPNZD short trade :)
Further confirmation is given by FTSE 100. Usually GBP moves against FTSE 100. See the chart below. The red line is FTSE 100 and it suggest a leg down in GBP as it moves opposite. Again Cheap GBP is what we need for our GBPNZD short trade. Right?
AND stronger NZD is what we are expecting here in the following chart. See how the average NZD is about to break both the Flag and old Channel. Again stronger NZD is what we need for our GBPNZD short trade :)