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GBPNZD recently broke through the resistance level 1.98000 (former support from the end of March) – intersecting with the 38.2% Fibonacci correction of the previous downward impulse from the middle of April. The breakout of this resistance zone should accelerate the active ABC correction (2). Given the strong bullish sentiment affecting Sterling today – GBPNZD is likely to extend the gains toward the next round resistance level 2.00000 (former monthly high from the start of June).
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