This trade is not actually a technical trade.
I am placing a pending order to Short GBPNZD at 1.8180 based on following fundamentals.
- Yesterday's NZD retail sales data came out as better than expected
- Today's GBP retail sales data released as worst than expected.
Both fundamentals together may take GBPNZD to new lows.
I am not that much concerned about fundamentals. Hence I am placing a pending order to short below recent consolidation.