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.


GBP/USD: "Triple Bottom"

The main intraday target is the next resistance at 1.4011. If a pullback from this level forms afterwards...


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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