Technical analysis

GBPNZD Wave Analysis – 24 June, 2021

• GBPNZD broke daily up channel

• Likely to fall to support level 1.9600

GBPNZD under the bearish pressure after the price reversed down from the key round resistance level 2.000, intersecting with the daily up channel from May and the upper daily Bollinger Band.

The downward reversal from the resistance level 2.000 started the active impulse wave 1.

Having just broken the aforementioned up channel – GBPNZD can be expected to fall further toward the next support level 1.9600.

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