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GBPNZD recently reversed down from the resistance area located between the resistance level 1.97000 (top of the previous Bearish Engulfing from September), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse (1) from August. Given the moderately bearish sterling sentiment seen across the currency markets today, GBPNZD is likely to extend the losses toward the next support level 1.94000 (former resistance from September).
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