GBP/NZD Bears looking to take price lower

17 thg 5, 2020

Let's take a look at two worst performers of last week. We can see that price for this pair is at key resistance line of descending channel. Looking at price action more closely (1H chart) we can see that price has already showed us that bulls momentum has been cooling off. However, we will wait for next 4H candle to close before we will open any short positions. As many NZD pairs has showed us that the price is at key level we tend to believe that Kiwi will have better results upcoming week.

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Good luck !