GBP/NZD broke daily up channel

GBP/NZD broke daily up channel

  • GBP/NZD broke daily up channel
  • Next sell target - 1.8000

GBP/NZD continues to fall after the earlier breakout of the support trendline of the daily up channel from the start of February (which has enclosed the (C)-wave of the previous ABC correction ② from the middle of October). The breakout of this up channel accelerated the active impulse wave (3) – which belongs to the primary impulse wave ③, which started earlier from the resistance level 1.9000 (previous buy target).

GBP/NZD is expected to fall to the next sell target at the round support level 1.8000. Strong resistance remains at 1.9000.

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