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Originally Posted by macduffy
Great chart, Edwood!
The original question concerned the long term direction of the GBP/NZD. To give a view on that, one needs a view on the long term prospects for the British and NZ economies.
Too hard for me!
hey MacDuffy - cheers
yeah I couldn't see an 'active trades' thread for GBP-NZD? Hoep you don't mind if I post shorter term stuff here...
To answer the original question >> you'd have to think there will some reversion to mean in future. GBP has been oversold in my mind, kiwi (and AUD for that matter) have benefited and at some point GBP will come back to life. Exactly when that is - who knows?
I am in the double-dip camp at a macro level and expect we'll see another major sell off before too long (it may have already begun) and kiwi will get dumped in the process. But if the fundamentals in the UK don't improve then there's no reason for NZD to stay down for long.
A change of govt in the UK would be a great start!
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kiwi caught a bid - if global markets play ball we may be back into the 2.22's. should be a good sell around there....
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hi ed, heres my count, i reckon we should get a rally to around wave 4 area for a great short.
ending diagonal has broken out with a reverse head shoulders suggesting retracement
underway.
38.2 retracement nails the top of the 4th wave , so i will be waiting around 44.50 for a
reversal pattern.
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Hi DB
I have something similar
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GBPNZD
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Hi Dumbass - got to your .382 - you in now or waiting? I'm wary of global indices continuing on higher and sucking GBP-NZD along for the ride so holding off for the moment
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hi ed , this could be in for a good move south now as it counts best as third wave of a 3/C
had courage of my convictions and shorted after that double top , good result so far.
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it is looking really rubbishy now. we are close to the all time low(gbp/nzd, high for nzd/gbp) again. i am sick of it.
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Now seems like the time to buy some GBP ? Am I wrong?
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