GBPNZD

Weekly: Price approaches a support level @ price 1.94500. The area is a key zone too.
Daily: A trendline has been broken to the downside and price has retested it and continue dropping.
Price broke a key Support level and currently retesting it.
H4: Price broke a Support level and retraced back for a retest or should it be a false break?
H1: Price broke a Resistance level and retraced back for a retest or it could a potential false break.


I think the short-term scenario looks that price holds the current level @ 1.98800 for a period of time and then pushes higher up to 2.00200 and perhaps to 2.01500. The alternative scenario - price could go lower from 1.98800 and targets around 1.97800. But the overall trend direction is bearish!