Good evening Forex Kings,

There is a potential trade set up on the GBPNZD. The NZD has been hammered against all major currencies this week due to corona virus fears and is oversold. From a technical perspective the GBPNZD has created a bearish divergence on the RSI daily charts signalling a reversal may occur soon.

GBPNZD – Daily Charts

GBPNZD – 1 Hour Charts

 

Trade Set Up: SELL GBPNZD – Our entry was 2.0533 – Stop Loss 2.0640 and take profit set at 2.0350

Stop Loss: 107 PIPS

Take Profit: 183