Market Snapshots

GBPNZD Wave Analysis – 20 April, 2020

GBPNZD Wave Analysis – 20 April, 2020
  • GBPNZD falling inside daily correction
  • Likely to fall to 2.0420

GBPNZD continues to fall inside the sharp downward correction which started earlier from resistance area located between the key resistance level 2.100 and the upper daily Bollinger Band.

The downward reversal from the aforementioned resistance zone created the daily Japanese candlesticks reversal pattern Evening Star.

GBPNZD is expected to fall further toward the next key support level 2.0420 (low of the earlier correction (ii)).

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