Technical analysis

GBPNZD Wave Analysis – 24 June, 2022

GBPNZD Wave Analysis – 24 June, 2022

• GBPNZD reversed from resistance level 1.9600
• Likely to test support level 1.9400

GBPNZD recently reversed down from the key resistance level 1.9600 (which has been continuously reversing the pair from the start of May), standing above the upper daily Bollinger Band

The downward reversal from the resistance level 1.9600 stopped the earlier short-term ABC correction 2.

Given the bearish sterling sentiment, GBPNZD can be expected to fall further toward the next support level 1.9400.

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