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)).


Bitcoin (BTC/USD) opening the doors for a lower extension

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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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