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Pattern formed - Descending triangle
- GBP/NZD faces strong resistance around 2.4025 and any break above confirms further bullishness , a jump till 2.45 (161.8% retracement of 2.4027 and 2.3147)/2.53 (161.8% projection of 2.4027 to 2.2699 from 2.3155)
- On the downside major support is around 2.3500 and break below targets 2.3150/2.2699.
- Short term bullish invalidation only below 2.3500.
- Major resistance - 2.4025
- Major support - 2.3500
It is good to buy above 2.4025 with SL around 2.3500 for the TP of 2.450/2.5300
