After a strong five-wave decline in 2015, ideally into a wave A), we see GBP/NZD trading in a complex W-X-Y corrective structure for a higher degree wave B) that can be approaching the end soon, ideally somewhere in the previous wave 2 zone, at the upper channel line and between 2.10-2.20 area. That said, a sharp drop towards the 1.927 level would be bearish for the pair.
Trade well,
The EW-Forecast team