GBPNZD shows a completed five wave impulsive structure followed by a corrective ABCDE wedge pattern that indicates exhaustion of bullish momentum. Price has now returned to retest the horizontal resistance area near the previous wave five peak where sellers are expected to regain control. The rejection from this zone suggests that the pair may struggle to break higher as supply outweighs demand creating a potential reversal point. If bearish pressure builds from this resistance level the market could retrace lower toward previous demand zones confirming the end of the bullish cycle and the beginning of a corrective decline. This structure aligns with Elliott Wave theory where a corrective phase typically follows a completed five wave impulse.