GBP/NZD Breaks Major Trend Line Support, Targets 2.000

GBP/NZD Breaks Major Trend Line Support, Targets 2.000

3 June 2016, 09:56
Roberto Jacobs
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GBP/NZD Breaks Major Trend Line Support, Targets 2.000

  • Major Support: 2.110 (trend line joining 2.0400 and 2.1107) 
  • GBP/NZD breaks below trend line resistance today morning and declined till 2.1072. It is currently trading around 2.11036. 
  • Minor trend reversal only above 2.1300 level. 
  • On the higher side the pair might be facing minor resistance at 2.1230 (2H Kijun-Sen) and any break above targets 2.1300/2.1500. 
  • Any break below trend line support confirms minor trend reversal, a decline till 2.090/2.060/2.000. 
  • Overall bearish invalidation only above 2.2000.

It is good to sell on rallies 2.1150 with SL around 2.1320 for the TP of 2.0650/2

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