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- GBP/NZD has been trading a falling wedge formation and has resumed downside after multiple rejections at wedge top.
- Downside has been supported with rising volumes and Technicals confirm further downside.
- Resistance on the upside is located at 2.0964 (5-DMA), 2.1049 (10-DMA) and 2.1200 (Wedge top).
- On the otherside, supports are seen at 2.0751 (session low and Feb 25th low), 2.0656 (May 11th lows) and then 2.0625 (Feb 26th low).
Recommendation: Good to sell rallies in the pair around 2.0820, SL: 2.10, TP: 2.0625/2.0450/2.0250
