ON GBPNZD, I’m seeing price reject the low potentially and for this to be a key reversal. It would be nice reversal trade as we see price rejecting the 1.6953 weekly and daily demand zone. To confirm this move, we need price to close above last weeks high at 1.7481 and that would confirm the move to the upside in my trading perspective. A lot of trading comes down to watching the right market at the right time. For this market it would be an amazing counter trend trade but at a key area of previous demand.
On EURGBP, I believe we area key trend decision point. Price is retesting a weekly demand zone at .8627 and bouncing of a daily trendline. On the daily time frame we are looking at a tight range for the past couple of weeks. Basic idea for a trade right now would be to play the extremes of the daily range. I believe that price will break to the downside and a new Trend will form because there are so many bounces off the trend line and the demand zones inside the weekly demand zone.
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