Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/NZD broke daily up channel
2019-11-11 • Updated
- 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 has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
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