GBPNZD currency pair recently reversed down from the key resistance level 1.97750 (former monthly high from October and March), intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 1.97750 created the daily Japanese candlesticks reversal pattern Evening Star – which stopped the previous intermediate ABC correction (2). Given the strength of the aforementioned resistance level 1.97750 – GBPNZD currency pair can be expected to fall further toward the next support level 1.89400 (former minor resistance from the start of May).