GBPNZD recently reversed down sharply with the daily reversal pattern Shooting Star from the long-term resistance level 2.06000 (which previously stopped the sharp upward impulse in the middle of December, as can be seen from the daily GBPNZD chart below) – strengthened by the upper daily Bollinger Band. Given the clear triple bearish divergence on the daily Stochastic indicator and the moderately bullish sentiment affecting the New Zealand dollar today – GBPNZD is likely to extend the losses toward the next support level 2.03000 (low of the earlier short-term correction from the start of March).