GBP/NZD: sell target - 2.1500.
By: Dmitriy Chernovolov
- GBP/NZD reached sell target 2.2000
- Next sell target - 2.1500.
GBP/NZD recently broke sharply below the support level 2.2000, which was set in our earlier forecast as the sell target for this currency pair. The breakout of the support level 2.2000 follows the earlier breakout of the 50% Fibonacci Correction of the previous sharp upward impulse wave from April. These two consecutive support breakouts are likely to accelerate the active impulse waves 3 and (C)- which belong to the extended primary ABC correction ② from August.
GBP/NZD is expected to fall further in the active waves 3 and (C) toward the next sell target at the support level 2.1500 (target price calculated for the termination of the active impulse wave 3).