Welcome to the Election day in the jungle. The GBPNZD pair could be breaking out of the daily range to be off to weekly lows on the higher time frames, where it formed what it seems like a bullish flag on the Daily chart, which has been disrupted and might break to the down side anytime soon.
On the 4H time frame it has broken a small uptrend before it reached the top of the daily range.
Note: This is a technical analysis, therefore news, such as how's been elected as next prime minister might change this.
If Boris Johnson wins we should expect a bullish scenario.
If Jeremy Corbin wins we should expect a bearish scenario.
Entry point would be below - 1.99754 (once bearish confirmation has been seen)
TP - 1.97023
SL - 2.00270
On the 4H time frame it has broken a small uptrend before it reached the top of the daily range.
Note: This is a technical analysis, therefore news, such as how's been elected as next prime minister might change this.
If Boris Johnson wins we should expect a bullish scenario.
If Jeremy Corbin wins we should expect a bearish scenario.
Entry point would be below - 1.99754 (once bearish confirmation has been seen)
TP - 1.97023
SL - 2.00270
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