Technical analysis
GBPNZD Wave Analysis – 21 July 2023
July 21, 2023 @ 22:35 +03:00
![](https://fxpro.news/wp-content/uploads/2023/07/gbpnzd-primary-analysis-jul-21-2027-pm-1-day-1024x475.png)
– GBPNZD reversed from key support level 2.0500
– Likely to rise to resistance level 2.090
GBPNZD recently reversed up from key support level 2.0500, which stopped the earlier corrections iv, 2 and ii .
The upward reversal from the support level 2.0500 created the daily Japanese candlesticks reversal patter Hammer – which continues the active impulse waves 3 and (3).
Given the prevailing daily uptrend, GBPNZD can be expected to rise further toward the next resistance level 2.090 (which stopped the earlier impulse waves 1 and i).