• GBP/NZD dipped on Tuesday as as traders positioned for an interest rate cut from the U.S. Federal Reserve and UK October GDP data .
• Investors expect the Federal Reserve to deliver a 25-bp rate cut when its policy meeting concludes on Wednesday, but the focus will be on any signals about the path ahead.
• The UK economy has struggled for momentum in 2025, with GDP growth slowing from 0.7% in Q1 to 0.3% in Q2 and just 0.1% in Q3.
• After shrinking 0.1% in September, the economy is expected to register zero growth in October, an improvement that offers little real optimism.
• Immediate resistance is located at 2.3066(50%fib), any close above will push the pair towards 2.3176 (SMA 20).
• Immediate support is seen at 2.2924(Lower BB) and break below could take the pair towards 2.2864 (Lower BB).
Recommendation: Good to sell around 2.3030 with stop loss of 2.3100 and target price of 2.2960
