GBPNZD recently reversed up sharply from the support area lying between the key multi-month support level 1.99000 (which also reversed the price sharply in the middle of March) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous downward impulse sequence 3 from the start of April. Given the moderately negative sentiment affecting the New Zealand dollar at the moment – GBPNZD is expected to rise further toward the next resistance level 2.01300 (former support level from the start of May).