GBPNZD Wave Analysis – 27 August, 2021

• GBPNZD falling inside impulse wave 1

• Likely to fall to support level 1,9600

GBPNZD continues to fall inside the minor impulse wave 1, which started earlier from the resistance zone located between the resistance level 2.0060 (monthly high from June) and the upper daily Bollinger band.

The downward reversal from this resistance zone stopped the previous medium-term impulse wave (C).

GBPNZD can be expected to fall further toward the next support level 1,9600 (which has been reversing the pair from the start of June).