GBPNZD Wave Analysis – 25 January, 2023

  • GBPNZD reversed from support level 1.9000

• Likely to rise to resistance level 1.9330

GBPNZD  currency pair recently reversed up from the round support level 1.9000 (which has been reversing the price from December) intersecting with the lower daily Bollinger Band and the 61.8% Fibonacci retracement of the previous upward impulse from September.

The upward reversal from the support level 1.9000 stopped the B-wave of the previous ABC correction (B).

GBPNZD currency pair can be expected to rise further toward the next resistance level 1.9330 (which stopped the previous waves (ii) and A).