GBPNZD H1 AnalysisGBP/NZD is dropping from the 2.0260 minor psychological area, which isn’t surprising since the level has been an area of interest for the pair since late January.
What makes the setup tradeable today is that GBP/NZD could gain downside momentum after consolidating at the resistance.
Shorting at current levels would give you prime reward-to-risk ratios especially if you’re eyeing the big 2.0000.
If you think that the pound isn’t done gaining pips on the Kiwi, however, then you’ll definitely want to wait until GBP/NZD makes new February highs AND trades comfortably above the range before you execute them long trades.
