GBPNZD - run too hard too fast
Time for some mean reversion in GBPNZD after a very strong run into and above the 2-handle - we now see price closing outside of the Keltner bands, with various oscillators at extremes - the elastic band is primed with price finding supply into the July/Aug double top - a break of Friday's lows and we should see a move back into 1.9920/00, potentially 1.9800.
Given the flow of capital into the GBP, it feels like pullbacks would present themselves as a buying op for a retest and potential break of 2.0080, but for now, it seems the risks are skewed to a bout of mean reversion
CW
Given the flow of capital into the GBP, it feels like pullbacks would present themselves as a buying op for a retest and potential break of 2.0080, but for now, it seems the risks are skewed to a bout of mean reversion
CW
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