– 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).
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