GBP/NZD: buy target - 2.2600
By: Dima Chernovolov
- GBP/NZD reached buy targets 2.2200 and 2.2400
- Next buy target - 2.2600
GBP/NZD has been rising strongly in the last few trading sessions breaking through the resistance levels 2.2200 and 2.2400 – both of which were set as the buy targets in our previous forecast for this currency pair. Each of these successive resistance breakouts further accelerated the active minor impulse wave 3 (which is a part of the 5th intermediate impulse (5) from May – belongs to the 3rd primary impulse ③ from last year).
With the accelerating daily Momentum, GBP/NZD is likely to rise further toward the next buy target 2.2600 (target price for the completion of the active impulse wave (5)).