GBP/NZD Trade Idea

• Pattern- Descending triangle pattern
   
• Major support - 2.2300 (trend line joining 2.2410 and 2.23150)
   
• GBP/NZD has declined till 2.2274 at the time of writing and slightly recovered from that level. Overall trend is bearish as long as short term resistance 2.2700 holds.
   
• Any break above 2.2700 will take the pair to next target 2.2840/2.299.
   
• On the lower side close below trend line support will drag the pair down till 2.160 level.

It is good to sell on rallies around 2.2320-25 with SL around 2.2700 for the TP of 2.160      

R1-2.2700

 R2-2.2840

R3-2.299

Support

S1-2.220

S2-2.16

S3-2.1350