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Same as EURNZD I am also looking to sell GBPNZD. We can clearly see that pair is in a downtrend, it has made a very shy higher high and is likely to continue downwards.
This below is a NZDUSD chart and has bounced off of the strong support again and is about to break through 0.7000 level and to go up towards the areas marked with green boxes.
And finally GBPUSD is starting to show some accumulation again. Lower low followed by a higher high. A possibility to start a new move lower.
If you put these 3 scenarios together then you see why it makes sense.
This below is a NZDUSD chart and has bounced off of the strong support again and is about to break through 0.7000 level and to go up towards the areas marked with green boxes.
And finally GBPUSD is starting to show some accumulation again. Lower low followed by a higher high. A possibility to start a new move lower.
If you put these 3 scenarios together then you see why it makes sense.