GBP/NZD throwback likely to be short lived

14 мая 2015 г.

As is shown on the chart, Cable bulls have recently broken a massive resistance zone against Kiwi which had halted them several times before eventual upside breakout. Now that there is a throwback, considering the borders of this zone, I favor a rather short lived correction that will reverse in the current zone. The maximum downside potential for this correction seems to be the 2.0740 level.

Good luck,