Technical analysis

GBPNZD Wave Analysis – 22 November , 2018

  • GBPNZD reversed from key support area
  • Further gains are likely

GBPNZD recently reversed up from the key support area lying between the long-term support level 1.8620 (previous monthly low from January) and the lower daily Bollinger Band.

The upward reversal from this support area started the earlier short-term impulse wave (iii) – which belongs to the multi-month upward impulse sequence from last year.

GBPNZD is expected to rise further and re-test the next resistance level 1.90000 (former strong support from February, March and June).

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