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GBP/NZD Sets Up

The GBP/NZD opened the week very bullish as signaled by its close above 1.9750. The rally this week has already recovered all of last week’s losses. However, the GBP remains a sell as the rally this week has been capped at the 61.8% Fibonacci retracment level.

GBPNZD DAILY CHART

 

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