Categories: Technical analysis

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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPNZD

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