GBPNZD recently reversed down with the daily candlestick pattern Evening star from the key resistance level 1.97300 (which also reversed the price at the start of October) intersecting with the upper daily Bollinger band and the 61.8% Fibonacci correction of the downward impulse (1) from August. Given the strengthening bearish sentiment affecting the pound today, GBPNZD is likely to fall further in the active impulse wave (3) toward the next support level 1.93500 (which reversed the price twice from the start of this month).
