September 11, 2020 at 03:24PM
• GBPNZD falling inside impulse wave 3
• Likely to test the support at 1.9000
GBPNZD continues to fall inside the sharp upward impulse wave 3, which previously broke the support level 1.9490, intersecting with the 61.8% Fibonacci correction of the upward wave (B) from July.
The active impulse wave 3 belongs to the intermediate downward impulse sequence (C) from the middle of August.
GBPNZD is likely to test the next round support at 1.9000 (former double bottom from August and the target price for the completion of the active impulse wave 3).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpnzd-wave-analysis-11-september-2020-20200911/
Selected by fonecable.com
- Bitcoin Outlook: Bullish Scenario May Play Out if Key Technical Support Holds
- AUD/USD Rate Faces Australia CPI Report & Fed Rate Decision
- Trading Earnings Season: 3 Steps for Using Earnings Reports
- Forex Vs Stocks: Top Differences & How to Trade Them
- How to Learn Technical Analysis with DailyFX