This is a much longer term outlook on GBPNZD. As you can see on a DAILY time frame, price has been respecting the channel but in the past few weeks has been trying to breakout to the downside.
Looking at things from a technical perspective, I see the downside pressure winning this tug of war and taking price to the 1.7500 region.
Although, when you factor in the current state of affairs surrounding the Pound and Brexit... anything could happen.
This is strictly my opinion and I am not qualified to give financial advice. Trade at your own risk.
Happy trading :)
~TraderTrev
Looking at things from a technical perspective, I see the downside pressure winning this tug of war and taking price to the 1.7500 region.
Although, when you factor in the current state of affairs surrounding the Pound and Brexit... anything could happen.
This is strictly my opinion and I am not qualified to give financial advice. Trade at your own risk.
Happy trading :)
~TraderTrev