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GBPNZD currency pair recently reversed down from the resistance zone located between the long-term resistance level 1.97900 (which has been reversing the price from last September), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from April. Given the overbought reading on the daily stochastic indicator – GBPNZD currency pair can be expected to fall further toward the next support level 1.96200 (former resistance from November).
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