GBP/NZD: buy targets – 2.2200 and 2.2400
By: Dima Chernovolov
- GBP/NZD reached buy target 2.1600
- Next buy targets – 2.2200 and 2.2400
GBP/NZD recently broke sharply above the resistance level 2.1600 (which was set as the buy target in our previous forecast for this currency pair) and 2.1800. The breakout of these successive resistance levels should further accelerate the active minor impulse wave 3 – which belongs to the 5th intermediate impulse (5) of the 3rd primary impulse ③ from April.
GBP/NZD is likely to rise further toward the next buy targets at 2.2200 (target price for the termination of impulse wave 3) and 2.2400 (target price for the termination of the longer-term impulse wave (5)).