Market Snapshots

GBPNZD Wave Analysis – 14 August, 2020

GBPNZD Wave Analysis – 14 August, 2020

• GBPNZD broke resistance area

• Likely to rise to 2.0150

GBPNZD recently broke the resistance area lying between the resistance level 2.000 (which also reversed the price at the start of June), intersecting with the 61.8% Fibonacci correction of the previous downward impulse from April.

The breakout of the resistance area continues active medium-term upward impulse sequence (3) from the start of August.

GBPNZD is likely to rise further toward the next resistance level 2.0150 (former strong support from the middle of May).

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