GBPNZD Wave Analysis 4 December, 2020

• GBPNZD reversed from strong support zone

• Likely to rise to 1.9270

GBPNZD previously reversed up sharply – after the pair failed to break below the major support zone located between the support levels 1.9000 and 1.9050.

The upward reversal from this support zone started the active short-term corrective wave (ii).

GBPNZD is expected to rise further toward the next resistance level 1.9270 (top of the previous minor correction (b) and the forecast price for the completion of the active corrective wave (ii)).