Technical analysis

GBPNZD Wave Analysis 17 February, 2021

GBPNZD Wave Analysis 17 February, 2021

• GBPNZD broke resistance zone

• Likely to rise to resistance level 1.9465

GBPNZD currency pair continues to rise after the price broke the resistance zone lying between the resistance level 1.9165 (which has been reversing the price from December) and the resistance trendline of the daily down channel from August.

The breakout of this resistance zone continues the active minor impulse wave c – which belongs to the ABC correction 2 from the end of 2020.

GBPNZD is likely to rise further toward the next resistance level 1.9465 (likely price for the completion of the active minor impulse wave c).

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