GBP V COMMS poised for a move up?

August 6, 2014 by

GBP vs commodity currencies such as NZD AUD and CAD still look like they have room to the upside, especially as they are trending strongly. GBPNZD has hit the 10 EMA and has a perfect setup to go long if you are looking at the Parkers Strategy. GBPAUD and GBPCAD have hit short term oversold points. Below is a chart of the GBPNZD 4H. Please note this is a purely technical trade.

I have bought with a stop about 120 points lower.