GBPNZD Cycles Bullish idea

As you can see from the chart we have had a ABC corrective cycle with 2 waves down of around equal length. This last wave shows divergence on the histogram indicating a reduction in seller volume. There is also an engulfing candle which shows buyers coming in after the false break below recent resistance levels. I would look for a bullish move to atleast 38% retracement of the ABC pattern.