Technical analysis

GBPNZD Wave Analysis 26 November, 2020

GBPNZD Wave Analysis 26 November, 2020

• GBPNZD under bearish pressure

• Likely to fall to 1,9000

GBPNZD under bearish pressure after the earlier conclusive breakout of the key support 1.9110 (which has been reversing the price from the middle of July).

The breakout of the support 1.9110 continues the active downward impulse wave (iii), 3 and (C).

Given the clear daily downtrend – GBPNZD is likely to fall further toward the next round support level 1,9000 (former multi-month low from July).

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