Based on the early price action and the current price at .6435, the direction of the NZD/USD the rest of the session on Monday is likely to be determined by trader reaction to the short-term 50% level at .6441.
EURGBP has taken a pounding over the last few months, seeing bears take over the market. They are still in control, even though we are having some short term relief, looking for price to come up to the 71 % fib to see rejection to take shorts from here down to the -61.8%.
1) Price has formed a double bottom on the daily chart
2) Price has rejected this support previously more than 3 times
3) I dont have a 3rd confluence, hence I may wait this one out until I see another confluence
1] I will be looking for comfirmationm with some kind of candle pattern such as bullish engulfing.
Looking for a Long (Buy) trade. Risk to reward is...