GBPNZD Wave Analysis – 29 April, 2020

• GBPNZD broke support area
• Likely to fall up to 2.0290

GBPNZD recently broke the support area lying between the key support level 2.0475 (which has been reversing the price from the ends of March) and the 50% Fibonacci correction of the earlier upward impulse from March.

The breakout of this support area continues the active medium-term downward impulse sequence (3) – which started earlier from the major resistance level 2.100.

GBPNZD is expected to fall further toward the next support level 2.0290 (61.8% Fibonacci correction level of the upward impulse from March).

GBPNZD