GBPNZD (Short to 1.88)

22 авг. 2022 г.

Hey traders! Here's another trade idea for the week ahead that we have included in our watchlist.

Fundamentals
GBP: will continue to be weak as recession is forecasted, rising energy prices, household income being squeezed due to rising inflation.

NZD: Not much idea on the current state of the nation but large speculators is starting to build up longs on NZD. It has one of the highest CB rates in the G10FX - recently raised by 50bps (now at 3%)

Technicals
- HTF retest and rejection of 1.915
- Short-term floor creating at 1.904
- Once this breaks, sells are looking good towards 1.88

This is the first chart of the week after a very successful week.

Have a killer trading week.

Cheers
👽🥂