As you can see from the chart above, this is counted to finish at least 3 degrees of trend ('C' wave could also be the ending a multiple making it 4 degrees of trend).
A break of Friday's low of 2.1405 builds the case a top is in. The conservative target on this is the origination of the diagonal pattern at 2.08. Since this is an ending wave at multiple degrees, lower potential exists to at least 1.94.
It is possible the dip to today's low is an expanded flat, but that is lower probability.
Be mindful we have an RBNZ rate announcement coming this Wed afternoon. Staying conservative in trade size can help you navigate the potential volatility.
Degree of trend is similar to saying different time frames of chart. Different degrees of trend means you have multiple 'time frames' sporting a pattern that is an ending pattern.
In the case of GBPNZD, the ending diagonal is one of my favorite patterns and it occurs in ending waves. As we see from price, the ending diagonal was not fulfilled...it was some other pattern.
My USDJPY daily chart (see below) is another example of several degrees of trend or 'time frames' showing ending waves. That trend is mature.
Feel free to ask more questions about it.