GBPNZD under bearish pressure after the earlier breakout of the support zone lying between the key support level 2.03100 (low of the previous Bullish Engulfing) and the support trend line of the wide weekly up channel from the end of 2018 (which is the strong sell signal for this currency pair). With the rising bullish New Zealand dollar sentiment – GBPNZD is likely to extend the loses toward the next round support level at 2.00000 (which started the previous sharp upward correction (B) in March) – from where the pair is likely to reverse up.