(MENAFN - FxPro)
- GBPNZD broke resistance area
- Further gains are likely
GBPNZD recently broke the resistance area lying between the resistance level 1.9060 (top of the previous (a)-wave) and the 61.8% Fibonacci correction of the previous downward impulse from June.
The breakout of this resistance area accelerated the active short-term impulse wave c from the end of July.
GBPNZD is expected to rise further and retest the next resistance level 1.9400 (target price for the completion of the active wave 2).