GBP/NZD short setup
GBP/NZD hits fresh 13-month lows at 1.83 handle, bias lower.
Momentum with the bears. Price action has slipped below weekly cloud and rising volatility signals further drag lower.
Markets largely ignored upbeat IHS Markit's Manufacturing PMI. Brexit uncertainty to keep any recovery attempts in the pound capped.
The pair eyes next major support at 61.8% Fib retracement at 1.8143. Bearish invalidation only above 200-DMA.
Good to stay short on upticks, target 1.8150
Momentum with the bears. Price action has slipped below weekly cloud and rising volatility signals further drag lower.
Markets largely ignored upbeat IHS Markit's Manufacturing PMI. Brexit uncertainty to keep any recovery attempts in the pound capped.
The pair eyes next major support at 61.8% Fib retracement at 1.8143. Bearish invalidation only above 200-DMA.
Good to stay short on upticks, target 1.8150
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