GBP/NZD tumbled during the European morning Friday, breaking below the 1.9330 level and the upside support line drawn from the low February 15th. Then, the rate dipped below the 1.9290 support (now turned into resistance), that way completing a failure swing top formation on the 4-hour chart. What’s more, the pair is also trading below a downside line taken from the high of February 28th. So, having all that in mind, we believe that the short-term picture has now turned to the downside.