Reason for Selling GBP/NZD :
GBP/NZD try to Breakout the Top Level 1.89 for 4 times, But it fails to Break the top.
The Market starts to fall down from the top level 1.89
Finally Market Breakout the bottom level of trend, it shows that the Buyers in NZD is getting more when comparing to GBP.
After the confirmation of Sell signal, market went down +700 Points but fails to reach our Profit Target.
Now, the market starts to Retrace up, to Re-test the previous Breakout level once again.
Another reason why market starts to move up is “Today is the last day of this Month, Most of the Big Players in the market would be closing their Sell Trades now and the Buyers starts to increase slowly in GBP/NZD”
These are the major reasons for GBP/NZD to move up.
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