Categories: Technical analysis

GBPNZD Wave Analysis 13 November, 2020

• GBPNZD reversed from support area

• Likely to rise to 1.9465

GBPNZD rising inside the minor correction (ii) which started earlier from the pivotal support level 1.91100 (which has been reversing the pair from July) and the lower daily Bollinger Band.

The active wave (ii) belongs to the minor downward impulse sequence 3 from October – which is a part of the impulse wave (C) from August.

GBPNZD is likely to rise further toward the next resistance level 1.9465 (target price for the completion of the active correction (ii)).

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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