• GBP/NZD slipped on Wednesday as Kiwi dollar firmed as risk sentiment improved, though geopolitical uncertainty remains.
• U.S. officials played down immediate concerns about oil and gas supply disruptions, noting markets remain well supplied in the short term
• On the data front, UK services sector grew for a 10th straight month in February, though new order growth slowed and job cuts continued, according to data from S&P Global..
• The S&P Global UK Services PMI was 53.9 in February, slightly down from January’s five-month high of 54.0, with readings above 50 signaling expansion.
• Immediate resistance is located at 2.2578(SMA 20), any close above will push the pair towards 2.2718(38.2%fib).
• Immediate support is seen at 2.2433(23.6%fib) and break below could take the pair towards 2.2392(Lower BB).
Recommendation: Good to sell around 2.2530 with stop loss of 2.2600 and target price of 2.2450
