GBP/NZD Retracement
Updated
We are going long GBP for this pair. There is clear divergence on the daily chart and weekly indicated with the white lines.Our stochastic's look good for a long as well. As well we have big support here with the triple bottom. The price has been tested 3 times and is holding. More to see on the weekly
Entry 1.7726 with the target being around 1.89
Entry 1.7726 with the target being around 1.89
Note
Looking at the weekly more is revealed for our long position. This price was the bottom in April of 2013. That is support 4 times now including the weekly chart.
Divergence can be seen here as well. RSI is climbing back up.
The 55 EMA and 100EMA has crossed the 200EMA This is a death cross. But when these things happen price retraces first before the next big drop where we will break through this bottom.
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