FxWirePro: GBP/NZD extends downside along falling wedge top, hits new 11-month lows at 2.0417

• GBP/NZD has been trading a falling wedge formation and has resumed downside to hit fresh 11-month lows at 2.0417. 
   
• Upbeat New Zealand CPI numbers boosted the Kiwi, pushing GBP/NZD lower.
   
• Our previous call (http://www.econotimes.com/FxWirePro-GBP-NZD-has-strong-resistance-at-20740-good-to-sell-rallies-194754) has achieved targets 1 and 2.
   
• The pair now sees resistance at 2.0537 (5-DMA), ahead of 2.0632 (10-DMA) and 2.0850 (Wedge top). 
   
• On the other side, supports are seen at 2.0248 (May 7th 2015 low), 2.0071 (Apr 30th 2015 lows) and then 2.0050 (May 6th 2015 lows).
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Recommendation: Book partial profits, hold for targets.