GBPNZD continues to fall after the recent breakout of the key support level 1.91500 (which has been reversing the price from the middle of June). The breakout of this support level continues the active medium-term impulse wave (5) from the start of June. Given the strength of the downtrend on the daily GBPNZD charts and the accelerating bullishness toward the New Zealand dollar seen today – GBPNZD is likely to fall further toward the next round support level 1.90000. Strong resistance remains at the recently broken price level 1.91500.
