Sterling still weak whilst the New Zealand dollar remains strong. Probable bearish continuation, but mindful of heavily oversold level. Expect move to be choppy. First target 1.76375, big long-term target thereafter of 1.70000.
Expecting a small retracement on open before continuing onto the current downtrend.
Also mindful of a a gap on the market open, will dictate possible entry, but my bias for this pair is short, targeting support level 1.67000 in extension. First target 1.70812
Recent double top formed, potential downside continuation, in extension to 112. Yen already showing strength going into Japanese economic data this week, as well as CHF showing some bearish forecasts on their releases this week. Expect a fairly nice move here over the next few days