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).
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