GBPNZD - 1.938/1.940 Are Bulls Looking At! (Elliott Wave)
Gregor Horvat of Elliott Wave Service - - Tue Aug 27, 4:03AM CDT

Hello fellow traders,

GBPNZD is recovering after a five-wave decline of a higher degree, which found a low at the 1.827 level. Price is now unfolding a three-wave A-B-C recovery, with leg C taking price towards the 1.938/1.940 area, where possible resistance, and a bearish turn can be seen.

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gbpnzd, 4h

On the intra-day chart of GBPNZD we have a closer look at the pair, and we see sub-wave iii of C unraveling its five-wave recovery, which can stop near the 1.930/1.935 area, from where a temporary wave iv correction may occur.


gbpnzd, 1h