GBP/NZD dipped on Monday as geopolitical tensions and domestic political challenges continue to weigh on the pair
• U.S. PresidentDonald Trump rebuffed Iran's response to a U.S. peace proposal, which kept concerns about an extended war intact and lifted oil prices..
• Trump said the Iran ceasefire was “on life support” after rejecting Tehran’s peace proposal, raising fears of renewed fighting in a 10-week war that has killed thousands and disrupted key energy flows.
• UK Prime Minister Keir Starmer urged Labour Party members to back him and avoid a leadership challenge, warning it would lead to chaos..
• Labour lawmakers have increasingly turned against him after the party recorded its worst local election results for a governing party in over three decades.
• Immediate resistance is located at 2.2952 (SMA20), any close above will push the pair towards 2.3002(50%fib).
• Immediate support is seen at 2.2782 (38.2%fib) and break below could take the pair towards 2.2742(Lower BB).
Recommendation: Good to sell around 2.2750 with stop loss of 2.2850 and target price of 2.2680
