GBPNZD - run too hard too fast
Time for some mean reversion in GBPNZD after a very strong run into and above the 2-handle - we now see price closing outside of the Keltner bands, with various oscillators at extremes - the elastic band is primed with price finding supply into the July/Aug double top - a break of Friday's lows and we should see a move back into 1.9920/00, potentially 1.9800.
Given the flow of capital into the GBP, it feels like pullbacks would present themselves as a buying op for a retest and potential break of 2.0080, but for now, it seems the risks are skewed to a bout of mean reversion
CW
Given the flow of capital into the GBP, it feels like pullbacks would present themselves as a buying op for a retest and potential break of 2.0080, but for now, it seems the risks are skewed to a bout of mean reversion
CW
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Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.