GBPNZD parallel channel has been breached
The pair has broken out of a parallel channel from 2017 and is expected to retrace to test the lower channel before heading lower.
The CFTC COT WEEKLY DATA shows that the Kiwi 🥝 Dollar has been getting stronger and stronger bouyed by the swift and effective response by the government on Covid19. Last week's fundamental data from New Zealand has been bullish and the country's currency is expected to beat expectations.
The Pound on the other hand is facing headwinds as the Brexit deadline approaching. A No - Deal remains a high possibility with EU 🇪🇺 countries preparing for the exact situation.
Personally, I remain bearish on all GBP pairs with the exception of GBPUSD.
The CFTC COT WEEKLY DATA shows that the Kiwi 🥝 Dollar has been getting stronger and stronger bouyed by the swift and effective response by the government on Covid19. Last week's fundamental data from New Zealand has been bullish and the country's currency is expected to beat expectations.
The Pound on the other hand is facing headwinds as the Brexit deadline approaching. A No - Deal remains a high possibility with EU 🇪🇺 countries preparing for the exact situation.
Personally, I remain bearish on all GBP pairs with the exception of GBPUSD.
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