The GBPNZD traded in a short term range around a LT support level, you know that every time the market gets close to an important LT level, it tends to trade in a range, once it breaks the range, it triggers the market condition in the direction of the breakout. In this case, the GBPNZD broke the ST support level triggering a bearish market condition:

As long as it trades below 2.0520 I’ll be looking for short opportunities.

The next LT support level is at 1.9961

Trade Safe and have a good weekend!

Raul Lopez
Forex Courses