• GBP/NZD strengthened towards 2.2934 on Friday as uncertainty over the Iran war continued to disrupt energy supplies, heightening concerns over fuel prices and interest rates..
• The ongoing conflict in the Middle East shows no signs of easing, keeping traders cautious and driving safe-haven flows into the U.S. dollar..
• Investor attention will shift next week to key central bank meetings, including the Federal Reserve, Bank of Japan, European Central Bank, and Bank of England, as markets look for signals on future policy direction.
• On the data front, Britain’s economy unexpectedly stalled in January, according to Friday’s data, while long-term inflation expectations remained persistently elevated.
• Immediate resistance is located at 2.2939(Higher BB), any close above will push the pair towards 2.2969(50%fib).
• Immediate support is seen at 2.2736(38.2%fib) and break below could take the pair towards 2.2631(SMA20).
Recommendation: Good to sell around 2.2970 with stop loss of 2.3050 and target price of 2.2900
