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GBPNZD Intraday Analysis

GBPNZD broke the downward trend line with pivots 1.94484 on 11th April 1:15 am and 1.93763 on 14 April 8:30 am. Although it was recently done on a long green candle, bearish divergence on the Commodity Channel Index suggests that the break in the downward trend line is short lived. It is recommended that traders take a short position on GBPNZD at market (1.93345) with a stop at 1.93763 and targeting 1.92743, a 1.48 reward risk ratio.