GBP/NZD broke support area

GBP/NZD broke support area

  • GBP/NZD broke support area
  • Next sell target - 1.8400

GBP/NZD recently broke through the support area lying between the support level 1.8820 (which reversed the price twice at the start of November, as can be seen below) and the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (C) from the end of June. The breakout of this support area accelerated the active impulse waves 3 and (iii). GBP/NZD is expected to fall to the next sell target at the next support level 1.8400 (target price for the completion of the active wave 3).

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