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I’m looking at this simple range setup on the 1-hour time frame of GBP/NZD to play the ongoing pickup in risk aversion stemming from the U.S.-China conflict.

Currency Snapshot:

Major Forex Pairs Performance from MarketMilk
Major Forex Pairs Performance from MarketMilk

Fresh Market Headlines & Economic Data:

Upcoming Potential Catalysts on the Forex Calendar:

  • German PPI m/m due 7:00 am GMT
  • ECB Financial Stability review due 9:00 am GMT
  • Canadian CPI reports due 1:30 am GMT

What to Watch: GBP/NZD

GBP/NZD 1-hour Forex Chart
GBP/NZD 1-hour Forex Chart

Sterling has been on weak footing in the weeks leading up to the December 12 snap elections, even as polls have been hinting at strengthening support for Tories.

GBP Pairs Stochastic from MarketMilk
GBP Pairs Stochastic from MarketMilk