Categories: Technical analysis

GBPNZD Wave Analysis – 22 June, 2020

• GBPNZD falling inside impulse wave 5

• Likely to fall to 1,9000

GBPNZD recently broke through the l support level 1,9400 (which has been steadily reversing the pair from October of 2019).

The breakout of the support level 1,9400 continues the active short-term downward impulse wave 5 – which belongs to the multi-month downward impulse sequence (C) from April. GBPNZD is likely to fall further toward the next support level 1,9000 (former monthly bottom from September of last year).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPNZD

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