GBP/NZD Should See a RetraceAfter yesterdays Bank of England announcements all GBP pairs have spiked upwards. I would expect a retrace on this soon before generally continuing upwards. I am bullish on GBP in the long term but there should be some short term shorting opportunities coming. This is also at a big monthly and daily resistance level which should make a drop more likely, and at the moment risk off currencies are very strong (NZD, AUD, CAD). Im looking for a TP at 0.5 Fibonacci, although you can also target 0.618 which would complete the neckline of structure (as highlighted in green)
TP - 1.90205
SL - 1.92050
