GBPNZD Wave Analysis – 05 September, 2019

• GBPNZD reversed from resistance level 1.9365
• Further losses are likely

GBPNZD today reversed down sharply from the resistance area lying between the resistance level 1.9365 (which has been reversing the price from June), 61.8% Fibonacci correction of the previous downward impulse 1 and the upper daily Bollinger Band.

The downward reversal from this resistance area continues the active short-term impulse wave 3.

GBPNZD is expected to fall further and retest the next support level 1.9055 (top of the previous minor correction (a) from August).