GBP/NZD faces strong resistance at 2.2000, good to sell on rallies

• Pattern Formed- Shooting star
   
• Potential Reversal Zone (PRZ) – 2.2000 (26th May High)
   
• The pair has broken major resistance 2.1760 yesterday and jumped till 2.2000.GBP/NZD has not able to withstand at higher levels and selling pressure started from that level. It is currently trading at 2.1740.
   
• Short term trend is slightly weak as long as resistance 2.2000 holds. Any indicative break above 2.200 will take the pair till 2.2263/2.2468/2.2795.
   
• On the lower side major support is around 2.1700 and break below targets 2.15900/2.1500/2.1395.

It is good to sell on rallies around 2.1800 with SL around 2.2000 for the TP of 2.1500/2.1390/2.1315