Market Snapshots

GBPNZD Wave Analysis – 22 August, 2019

GBPNZD Wave Analysis – 22 August, 2019
  • GBPNZD broke resistance area
  • Further gains are likely

GBPNZD recently broke the resistance area lying between the resistance level 1.9060 (top of the previous (a)-wave) and the 61.8% Fibonacci correction of the previous downward impulse from June.

The breakout of this resistance area accelerated the active short-term impulse wave c from the end of July.

GBPNZD is expected to rise further and retest the next resistance level 1.9400 (target price for the completion of the active wave 2).

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