GBP/NZD Technical Outlook: Bullish Reversal Offers a Buy OpportuBRITISH POUND / NEW ZEALAND DOLLARFX_IDC:GBPNZDAmirMIssaGBP/NZD shows a clear breakout above the descending trendline, followed by a correction toward the new support zone between 2.3157 – 2.3107, which may present a potential buying opportunity if the price holds above this area. The recent breakout indicates a shift in market structure from bearish to bullish, supported by strong momentum after breaking the previous high — signaling the start of a new upward wave. The price is expected to target the 2.3411 resistance level as the next upside objective, provided that a bullish rebound is confirmed from the current zone. From a technical perspective, any limited pullback toward 2.3157 could be considered a chance to enter long positions, with a stop loss below 2.3038 to maintain proper risk management. The continued weakness of the New Zealand dollar, following the Reserve Bank’s recent rate cut, further supports this bullish scenario in favor of the British pound. Overall, as long as the price remains above the broken trendline, the bullish outlook remains valid, with potential targets at 2.3411 and 2.3500 in the short term.