GBPNZD recently reversed down sharply from the resistance zone lying between the pivotal resistance level 2.03800 (top of the previous wave (b), which created the previous reversal pattern Falling Star Doji in December) and the lower daily Bollinger Band. Given the strength of the resistance level 2.03800 and the rising bearish Sterling sentiment – GBPNZD is likely extend the losses toward the next support level 2.02000 (former resistance from October and November). Strong resistance barreers now stand at the resistance levels 2.03800 and 2.05600.