GBPNZD today reversed up once again from the strong support area lying between the long-term support level 1.94200 (former multi-month low from December of 2019), and the lower daily Bollinger Band. The upward reversal from this support area runs counter to the earlier medium-term impulse wave (5). Given the moderately bullish sterling sentiment seen across the markets today and the strength of the nearby support level 1.94200 – GBPNZD is likely to rise further toward the next resistance level 1.96300 (top of the previous minor upward correction).