Market Snapshots

GBPNZD Wave Analysis – 15 October, 2019

GBPNZD Wave Analysis – 15 October, 2019
  • GBPNZD broke round resistance level 2.0000
  • Likely to rise to 2.0400

GBPNZD recently broke the key round resistance level 2.0000 which previously reversed the price sharply in May and September (top of waves A and (i)).

The breakout of the resistance level 2.0000 accelerated the active short-term impulse wave (C) of the ABC correction (2) from July.

GBPNZD is expected to rise further and retest the next resistance level 2.0400 (target for the completion of the active impulse wave (iii)).

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