Technical analysis

GBPNZD Wave Analysis – 27 November , 2018

  • GBPNZD falling inside wave (b)
  • Further losses are likely

GBPNZD recently reversed down from the major resistance level 1.8950 (former key support which has been repeatedly reversing the price from the middle of February, acting as resistance after it was broken by the previous impulse wave (c)).

The downward reversal from this resistance level started of the active short-term correction (b) of the minor impulse wave 3 from key support level 1.8620.

GBPNZD is expected to fall further and re-test the next support level 1.8620 (low of the previous corrective waves (B) and 2).


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