GBP/NZD reversed from resistance zone Next sell target - 1…
GBP/NZD broke strong resistance level 1.8900
- GBP/NZD broke strong resistance level 1.8900
- Next buy target - 1.9200
GBP/NZD recently broke above the powerful resistance level 1.8900 (which reversed the price multiple times in April and May, as can be seen from the daily GBP/NZD chart below). The breakout of the resistance level 1.8900 is aligned with the active minor impulse wave 3 – which belongs to the intermediate impulse wave (C) from the end of June. GBP/NZD is expected to rise to the next buy target at the next resistance level 1.9200 (target price for the termination of the active impulse wave 3).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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