GBPNZD Wave Analysis 15 December, 2020

• GBPNZD reversed from key support level 1.8600

• Likely to rise to 1.9050

GBPNZD recently reversed up from the key support level 1.8600 – intersecting with the lower daily Bollinger band and the support trendline of the daily down channel from August.

The upward reversal from the support level 1.8600 created the daily Hammer which started the active minor correction (ii).

GBPNZD is expected to rise further toward the next resistance level 1.9050 (forecast price for the completion of the active minor correction (ii)).