GBPNZD Wave Analysis – 17 August, 2022

• GBPNZD broke key resistance level 1.9100

• Likely to rise to resistance level 1.9270

GBPNZD recently broke above the key resistance level 1.9100 (former lower boundary of the sideways price range inside which the pair has been trading from the middle of April).

The breakout of the resistance level 1.9100 accelerated the active short-term ABC correction (ii).

Given the bullish sterling sentiment seen today, GBPNZD can be expected to rise further toward the next resistance level 1.9270 (middle of the aforementioned sideways price range and the target for the completion of the active wave (ii)).