Categories: Technical analysis

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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPNZD

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