GBP/NZD may face selling pressure ahead if the pair fails to re-mount the January uptrend which has served as a key inflection point at several intervals. Over the past few weeks, traders have expressed an interest in climbing higher as demonstrated by the far-reaching wicks but ultimately failed. The lack of confidence could lead to capitulation and catalyze a selloff until GBP/NZD hits the familiar 1.9878-2.0000 support range.
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