GBPNZD Wave Analysis – 08 March, 2019

• GBPNZD reversed from resistance area
• Further losses are likely

GBPNZD recently reversed down from the resistance area lying between the pivotal key level 1.94200 (monthly high from January), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from October.

The downward reversal from this resistance area started the active medium-term impulse wave (3).

GBPNZD is expected to fall further and re-test the next round support level 1.9000 (target price for the completion of the active impulse wave (i)).