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GBP/NZD at historical support

The pair has fallen aggressively to trade at multi year low at 1.77 , lowest monthly close in 2013 has been 1.81 , so if the pair managed to close above that level , that would be a good sign for short term recovery.

Otherwise , on monthly close below 1.81 , the pair will continue falling.

For recovery on the daily chart , we recommend going long on daily close above 1.7880 area and targeting 1.8250 and 1.86 area.

We have a falling trend line , a breakout plus breaking resistance at 1.7880 area will help the pair recover towards 1.90 ultimately.

Happy trading ... for updates on this trade and other trading ideas follow me on twitter ; @boriology

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