The GBP/NZD recently reversed down from the top of the daily Up Channel that was earlier identified by Autochartist – as you can see from the following trade opportunity alert for this pair. The GBP/NZD is expected to fall to the target level 1.9273 in the next 6 trading days. Autochartist set the stop-level for this forecast at 1.9880 (point B). This point formed when the pair reversed down with the daily Japanese candlestick reversal pattern the Evening Star from the resistance zone lying between the 61.8% Fibonacci Correction of previous downward impulse from January and the resistance level 1.9800 (as you can see on the second chart below).
The daily GBP/NZD chart below shows the aforementioned resistance levels: