LeoPrime Daily Market Analysis

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GBPNZD reversed from resistance area; Likely to fall to support level 1.96000.

GBPNZD currency pair recently reversed down with the daily Evening Star candlesticks reversal pattern from the resistance area lying between the resistance level 1.9840 and the 61.8% Fibonacci correction of the downward price impulse from the middle of June. Given the strengthening new Zealand dollar bullishness seen across the FX markets today – GBPNZD currency pair can be expected to fall further toward the next support level 1.96000 (which reversed the price twice in June)

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