GBPNZD long setup

I had this pair in my watchlist which has formed a nice double bottom on the daily support. I have currently a long position.

NZD was the weakest currency during the week and I think we could see more downside because of china economy underperforming actually, less demands so less exports for New Zealand.

Both economy inflation still very high, UK is higher for the moment

retail sentiment: slowly changing from bullish to bearish

NZD index: FX:NZDUSD*FX_IDC:NZDEUR*FX_IDC:NZDGBP*FX:NZDCHF*FX:NZDJPY*FX:NZDCAD*FX_IDC:NZDAUD

Kommentar:

I have moved my stop loss to 2.045 (-0.5R)

Kommentar:

Price approaching the target area !