GBP/NZD broke strong resistance level 1.8900

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).



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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