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GBPNZD broke 2.00000 resistance zone; Likely to rise 2.02000

 

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)).

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