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Elliott wave Analysis: GBPNZD Taking The Bearish Path

Paun British / Dolar New Zealand (OANDA:GBPNZD)  
ew-forecast  
OANDA:GBPNZD   Paun British / Dolar New Zealand
Trend Analysis Chart Patterns Wave Analysis GBPNZD correction Bearish Patterns reversal confirmation set-up weakness
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trendanalysis chartpattern waveanalysis gbpnzd correction bearish reversal confirmation set-up weakness
Lately GBPNZD breached the lower Elliott wave channel line around the 1.9205 region, which can suggest a bearish continuation to be in progress. Notice that rally from 1.8614 level is in three waves, which is also a sign of a temporary correction, so more weakness may follow.
All said, a further break below the 1.9004 level will confirm more weakness.
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