Market Snapshots

GBPNZD Wave Analysis – 31 March, 2020

GBPNZD Wave Analysis – 31 March, 2020
  • GBPNZD rising inside short-term impulse wave (iii)
  • Likely to rise to 2.100

GBPNZD continues to rise inside the short-term impulse wave (iii) which started earlier from the support area lying between the round support level 2.000 (which has been reversing the price from the start of February), lower daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp upward impulse from July.

The active impulse wave (iii) belongs to the medium-term upward impulse sequence 3 – which began in December.

GBPNZD is likely to rise further toward the next resistance level 2.100 (top of the previous impulse wave (i)).

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