FX:GBPNZD British Pound / New Zealand Dollar
The fundamental factors has played key role in the recent downtrend in GBPNZD as the pandemic situation in England got worse and the economic condition in New Zealand was also in trouble and in some countries they re imposed some minor restrictions.Today the RBNZ has leave the rate unchanged this causing the further selling of GBPNZD in coming days.
We can clearly see the price movement was within a broad and its about to reach the lower side of the . And i am expecting further downside breakdown in coming days. Currently the Wave 02 was completed and Third major wave was underway.We can see a pattern in 4 Hour time frame 1.94550 would be a desirable entry point for bear.The main invalidation point was 1.97530