GBPNZD Technical Analysis 6 January, 2021

• GBPNZD rising inside impulse waves (iii) and C
• Likely to rise to resistance level 2.0070

GBPNZD currency pair continues to rise inside the sharp upward impulse waves (iii) and C – which belong to the higher order ABC correction (2) from the start of November. The pair earlier broke above the key resistance level 1.9725 (which has been reversing the price from October) – which accelerated the active impulse waves (iii) and.

Given the strong daily uptrend and the continuation of the strongly bullish sterling sentiment that can be seen on the currency markets today – GBPNZD currency pair can be expected to rise further toward the next multi-month resistance level 2.0070 (which reversed the price in August).

Was this post helpful?