LeoPrime Daily Market Analysis

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GBPNZD broke combined 1.96000 resistance area; Likely to rise to 1.98000

GBPNZD recently broke above the combined resistance area lying between the resistance level 1.96000 (former correction top from June) and the 61.8% Fibonacci retracement of the downward impulse from the start of June. Given the powerful bullish Sterling sentiment seen across the currency markets today (coupled with extreme bearishness toward CAD) – GBPCAD is likely to extend the gains toward the next resistance level 1.98000 (former minor support from the end of May).

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