Market Snapshots

GBPNZD Wave Analysis – 13 September, 2019

GBPNZD Wave Analysis – 13 September, 2019
  • GBPNZD broke resistance zone
  • Further gains are likely

GBPNZD recently broke the resistance zone lying between the resistance level 1.9400 (which has been reversing the price from the middle of June) and the 61.8% Fibonacci correction of the previous downward impulse 1 from May.

The breakout of this resistance zone accelerated the active short-term impulse wave (c) from the start of September.

GBPNZD is expected to rise further and retest the next resistance level 1.9700 (target price for the completion of the active ABC correction 2).

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