GBP/NZD reversed from support zone

GBP/NZD reversed from support zone

  • GBP/NZD reversed from support zone
  • Next buy target - 1.8710

GBP/NZD recently reversed up from the support zone lying between the strong support level 1.8350 (low of the previous minor correction (a)), 38.2% Fibonacci correction of the previous upward price impulse (v) from the start of September and the upper trendline of the daily up channel from June (acting as support after it was broken). GBP/NZD is expected to rise to the next buy target at the next resistance level 1.8710 (top of the previous waves 3 and (b)).

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