GBPNZD DroppingGBP/NZDOANDA:GBPNZDAndrewsMarket-MasteryExamining this weekly GBPNZD chart, the pair has been grinding higher in a multi-year uptrend from the 2024 lows around 2.00153, but recent months show a sharp rejection from the brown resistance at 2.37461 after a volatile climb, forming a potential topping pattern with that yellow downtrend line connecting highs and the black arrow highlighting the latest bearish impulse down to test the purple support near 2.25530, where price closed at 2.2553 down 0.10 percent weekly amid seller pressure, yet holding above the green key level of 2.19957 with RSI showing oversold conditions hinting at a possible rebound. Fundamentals from Forex Factory for today February 22 2026 feature upcoming NZD retail sales q/q at 11:45pm forecasted at 0.6 percent versus previous 1.9 percent and core retail sales at 0.4 percent from 1.2 percent, which could weaken the Kiwi if misses occur on this Sunday release, while recent data like NZD employment change beating at 0.5 percent and GBP final manufacturing PMI at 51.8 above expectations bolster the Pound relatively, coupled with strong US ISM manufacturing PMI at 52.6 fueling dollar crosses but pressuring antipodeans; with the Bank of England steady at 3.75 percent signaling gradual easing and RBNZ dovish undertones, Im targeting a short entry here below 2.2553 aiming for 2.21992 if retail data disappoints, setting stop above 2.26830 for a high-probability profitable forex setup in this descending channel.