GBPNZD recently reversed up from the support area located between the pivotal support level 2.04850 (former multi-month resistance level from October of 2019) and the 50% Fibonacci retracement of the previous strong upward impulse from the middle of March. Given the strength of the daily uptrend and the rising bullish sentiment affecting Sterling – GBPNZD is likely to extend the gains toward the next resistance level 2.10000 (which stopped the two previous sharp upward impulses – in March and earlier this month).
