The GBP/NZD was unable to break 2.31 resistance established last week, and over the past several hours has seen a steady drop with prices now testing previously established support near 2.27. A break below this level would bring converging Fibonacci support near 2.25 into play where we have an emerging bullish Gartley pattern projected to complete (near point D on the chart below). This bullish pattern is also projected to complete at 38.2% support uptrend that developed over the past two weeks which increases the odds of at least a short-term correction near this level. Similar to the recent EUR/CAD setup, we will keep an eye out for any gaps and/or long bars prior to point D which would suggest further bearish momentum down to perhaps the 127.2%-161.8% extensions of XA, which also happen to coincide with the 61.8% and 78.6% retracements of the larger 2-week uptrend. Otherwise, we're looking at a potential shorter-term buy just above point D with stops just below X but we'll hold off on specifics until we are able to assess price action once we're closer to pattern completion.