GBPNZD currency pair recently reversed up from the pivotal support level 1.91400 (which has been repeatedly reversing the pair from the middle of April), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward price impulse from the start of
April. The upward reversal from support level 1.91400 stopped the earlier minor ABC correction. Given the strongly bullish sterling sentiment seen across the FX markets today and the oversold daily Stochastic, GBPNZD currency pair can be expected to rise further toward the next resistance level 1.93500 (former support from the end of May).