Market Snapshots

GBPNZD Wave Analysis 12 January, 2021

GBPNZD Wave Analysis 12 January, 2021

• GBPNZD reversed from support level 1.8600

• Likely to rise to 1.9140

GBPNZD recently reversed up from the support level 1.8600 (which created the daily Hammer last month) – standing near the lower daily Bollinger Band.

The up reversal from the support level 1.8600 started the active short-term corrective wave (ii).

GBPNZD is likely to rise further toward the next resistance level 1.9140 (former powerful resistance from December and the target price for the completion of the active minor correction (ii)).

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