Technical analysis

GBPNZD Wave Analysis – 19 July 2023

– GBPNZD reversed from key resistance level 2.0855

– Likely to fall to support level 2.0500

GBPNZD currency pair recently reversed down from the key resistance level 2.0855, intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 2.0855 stopped the intermediate impulse wave (3) from the middle of this month.

Given the strength of the resistance level 2.0855, GBPNZD currency pair can be expected to fall further toward the next support level 2.0500 (low of the previous corrections 4 and (2)).

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