Scanning the GBP pairs looking for short opportunities – I decided to enter the GBPNZD at the 50% Fib of the huge spike lower. Entered trade and now 150pips up with stop at break even.
Lines of support marked on looking at support to the left, with lower support line from 2014.
– Price is sat at on my 1st support line looking like it could move to 1 hour 21ema – stop just above 21ema
– Price breaks support 1 then support 2 target – will take 50% of at support 2 and look for support 3 at 1.77 area
Expecting some recovery of price with large GBP sell-off towards the end of London trading – Would you hold millions in GBP over the weekend?