LeoPrime Daily Market Analysis

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GBPNZD reversed from 2.10000 resistance area; Likely to fall 2.06000

GBPNZD recently reversed down from the resistance area lying between the key resistance level 2.10000 (which stopped the pervious sharp upward impulse wave (i) in the middle of March) and the upper daily Bollinger Band. The downward reversal from this resistance area started the active short-term correction (ii). Given the strength of the resistance support area – GBPNZD is likely to fall further toward the next support level 2.06000 (former strong resistance from February). Powerful resistance remains at the resistance level 2.10000.

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