FxWirePro: GBP/NZD down trend loses steam, remains on bearish path

• GBP/NZD   traded in narrow range as  investors digested UK  GDP  data and awaited news about a possible U.S.-Iran peace deal.

• President Donald Trump said the U.S.-Israel war with Iran was “close to over,” while the White House expressed optimism about a potential deal.

•An Iranian official said major differences remain, including over Tehran’s nuclear ambitions, despite some progress in talks.

• Iran had indicated that Lebanon should be part of the ceasefire that was announced on Tuesday night.

• Gross Domestic Product rose 0.5% month-on-month in February, marking the strongest growth since January 2024, according to the Office for National Statistics.

• Separate ONS data showed Britain’s trade deficit, excluding volatile precious metals, widened to £5.627 billion ($7.62 billion) in February, the highest since November 2024.

• Immediate resistance is located at 2.2300 (50%fib), any close above will push the pair towards 2.3052(SMA 20).

• Immediate support is seen at 2.2822 (Lower BB) and break below could take the pair towards 2.2781(Lower BB).

Recommendation: Good to sell around 2.2980 with stop loss of 2.2340  and target price of 2.2900