Market Snapshots

GBPNZD Wave Analysis – 22 June, 2020

GBPNZD Wave Analysis – 22 June, 2020

• GBPNZD falling inside impulse wave 5

• Likely to fall to 1,9000

GBPNZD recently broke through the l support level 1,9400 (which has been steadily reversing the pair from October of 2019).

The breakout of the support level 1,9400 continues the active short-term downward impulse wave 5 – which belongs to the multi-month downward impulse sequence (C) from April. GBPNZD is likely to fall further toward the next support level 1,9000 (former monthly bottom from September of last year).

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