Market Snapshots

GBPNZD Wave Analysis 13 November, 2020

GBPNZD Wave Analysis 13 November, 2020

• GBPNZD reversed from support area

• Likely to rise to 1.9465

GBPNZD rising inside the minor correction (ii) which started earlier from the pivotal support level 1.91100 (which has been reversing the pair from July) and the lower daily Bollinger Band.

The active wave (ii) belongs to the minor downward impulse sequence 3 from October – which is a part of the impulse wave (C) from August.

GBPNZD is likely to rise further toward the next resistance level 1.9465 (target price for the completion of the active correction (ii)).

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