GBPNZD- Short Idea

12月3日

The Leading economic indicators and endogenous factors are decreasing for the pair GBPNZD, while exogenous factors are increasing. Both currencies are decreasing interest rates almost at the same pace. COT report shows that net non-commercial positions are decreasing in both currencies. But the NZD has the edge over GBP as seasonality supports the bearish trend of GBPNZD as December is the risk-on month and NZD is a risk-on currency.
However, If we look technically GBPNZD is in a bearish trend but currently, it is playing a range. So, according to our bias, we will only look for the sell setups.