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GBP/NZD reversed from resistance zone

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  • GBP/NZD reversed from resistance zone
  • Next sell target - 1.7400

GBP/NZD continues to fall inside the minor corrective wave 2, which started earlier from the resistance zone lying between the resistance level 1.7900 (which reversed multiple corrective waves in July, as can be seen from the daily GBP/NZD chart below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse (1) from May. GBP/NZD is expected to fall to the next sell target at the next support level 1.7400 (which reversed the price in June and July).

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