GBP/NZD reversed from resistance zone

GBP/NZD reversed from resistance zone

  • GBP/NZD reversed from resistance zone
  • Next sell target - 1.8680

GBP/NZD recently reversed down from the major resistance zone lying between the long-term resistance level 1.9370, upper weekly Bollinger Band and the upper resistance trendline of the weekly up channel from the end of 2016. The downward reversal from this resistance zone stopped the previous minor impulse wave 3. GBP/NZD is expected to fall further to the next sell target at the next support level 1.8680 (former resistance from September).



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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