GBP/NZD dips below 2.10 marks, short term trend reversal expected

• Pair is currently trading at 2.1090 levels.
   
• It made intraday high at 2.1165 and low at 2.1071 levels.
   
• Yesterday pair touched fresh yearly low at 2.0967 levels and took reversal from key support level.
   
• Overall trend is bearish till the time pair holds key resistance at 2.15 marks.
   
• Alternatively, current rebound from 2.0967 levels will provide short term trend reversal and likely to consolidate below 2.1345 marks.
   
• Key support level falls at 2.0968 levels.

We prefer to take short position in GBP/NZD around 2.1150, stop loss 2.1310 and target 2.0968/2.0648 levels.