Market Snapshots

GBPNZD Wave Analysis – 11 September, 2020

GBPNZD Wave Analysis – 11 September, 2020

• GBPNZD falling inside impulse wave 3

• Likely to test the support at 1.9000

GBPNZD continues to fall inside the sharp upward impulse wave 3, which previously broke the support level 1.9490, intersecting with the 61.8% Fibonacci correction of the upward wave (B) from July.

The active impulse wave 3 belongs to the intermediate downward impulse sequence (C) from the middle of August.

GBPNZD is likely to test the next round support at 1.9000 (former double bottom from August and the target price for the completion of the active impulse wave 3).

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