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GBPNZD Trade Idea – Looking for Retracement and Trendline Play

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GBPNZD looking for it to retrace upside by LearningFX on TradingView.com

After the rate decision from RBNZ last night and then Wheeler being quite hawkish and talking about more interest rate hikes, though he did mention that the price of the currency exchange is too high but as we’ve seen there has been relentless buying in all NZD pairs. Although I see a lot of buying pressure in the NZD, so that adds a lot of risk to this trade but I believe GBP fundamentals are good, and that the NZD as well will retrace a bit. So let’s see how this one goes.

I usually make my updates when in a trade on twitter.

I wouldn’t suggest just following my trades, create your own trade ideas, feel free to discuss them or anything in relation to this trade idea. May help me out!

Do read the disclaimer.

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Learning FX

The idea is to basically help out others trade and understand the foreign exchange market with more ease. My articles and trade ideas are based on my experience and are for educational purposes only. You can follow our updates on twitter

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