GBP/NZD Short Bias Trade

1 set 2019

This pair has much better market structure than the GPB/AUD in my opinion. If i'm going to take one of them, it's this one... We can see the pair has had a nice rally to the top of the trend line now putting in a new re-test of the descending trendline. I'll be looking for short trades early in the week on this market. What tops this off is NZD is now hitting major support and we could see some strength come back into the NZD which should help push this one down more. On top of that, we're testing the 200 EMA on the weekly chart and last week closed as a nice rejection at this level. Shorts all the way back down to support in my opinion.