GBPNZD currency pair recently reversed down from the resistance area located between the key resistance level 1.91700 (which has been reversing this currency pair from the start of December as can be seen from the
daily GBPNZD chart below) and the upper daily Bollinger Band. The downward reversal from this resistance area continues the active minor impulse wave 3. Given predominant downtrend that can be seen on the daily GBPNZD charts and the clear bearish triple divergence on the daily Stochastic – the price is likely to fall further toward the next support level 1.89300 (which has been reversing the price from the end of January)