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marcyacoub

GBP/NZD Weekly Chart Analysis

Short
British Pound / New Zealand Dollar (FX:GBPNZD)  
marcyacoub  
FX:GBPNZD   British Pound / New Zealand Dollar
Wave Analysis Chart Patterns Trend Analysis
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waveanalysis chartpattern trendanalysis
Looking at GBP/NZD from a bigger picture, GBP/NZD finished 5 waves up and is currently trading inside its big ABC corrective cycle. Zooming in a little bit, we can spot a bearish continuation to the downside towards retesting the critical area around 1.8366.

If the price manages to break below this area, then we expect further continuation for more downside towards retesting previous lows around 1.78000 and even 1.70000 in the long-run.

Goodluck everyone!

M.Y.
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