BKSWING Place Order to Buy GBP/NZD at 2.0058 Stop at 1.9998 Close 1/2 at 2.0088 Close rest at 2.0187

After hitting a 1 year low during the early European trading session, sterling rebounded nicely today on the back of less dovish BoE minutes. The Bank of England felt that the market’s concerns about the economic slowdown and exchange rate are overblown and with 2 members voting for a rate hike, we could see a further squeeze in the British pound. We like buying GBP against the NZD because dairy prices continued to fall. On top that, NZD will sell off if Chinese manufacturing activity slows. 2.0 is an important resistance level for GBP/NZD which if broken could pave the way for a smooth ride up to 2.0. To take advantage of this view, we are laying out the following pending order to buy GBP/NZD:

1. Buy GBP/NZD at 2.0058

Stop at 1.9998

Close 1/2 at 2.0088

Close rest at 2.0187

We still have the following pending orders on:

1.Sell EUR/USD at 1.2334

Stop at 1.2394

Close 1/2 at 1.2304

Close rest at 1.2175

2.Sell GBP/USD at 1.5565

Stop at 1.5625

Close 1/2 at 1.5535

Close rest at 1.5425

3.Sell EUR/CAD at 1.3987

Stop at 1.4047

Close 1/2 at 1.3957

Close rest at 1.3625

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled

Swing

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