GBPNZD Wave Analysis – 5 September, 2022

• GBPNZD reversed from support zone

• Likely to rise to resistance level 1.9060

GBPNZD currency pair recently reversed up from the support zone located between the long-term support level 1.8800 (previous monthly low from March) intersecting with the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous short-term downward impulse waves (iii) and 3.

Given the strength of the support level 1.8800 – GBPNZD can be expected to rise further toward the resistance level 1.9060.