GBPNZD recently broke through the resistance zone lying between the key round resistance level 2.0000 (previous upward target set in the last report for this currency pair) and the 50% Fibonacci correction of the sharp downward impulse wave from the middle of April. Given the predominantly bearish New Zealand dollar sentiment seen across the FX markets today – GBPNZD is likely to extend the gains toward the next resistance level 2.02000 (target price for the completion of the active ABC correction (2)).
