• GBP/NZD edged higher on Tuesday as traders monitored developments surrounding a potential agreement to reopen the Strait of Hormuz.
• Reopening the Strait of Hormuz under a U.S.-Iran agreement could benefit oil-importing nations, easing pressure on the yen and euro, pound as energy market risks subside..
• President Trump said talks with Iran are continuing, but investors remain skeptical about the prospects for a lasting peace deal .
•Meanwhile,Bank of England Governor Andrew Bailey said it was important to bring British inflation back to target and give households confidence about the central bank's ability to do so.
• Immediate resistance is located at 2.2728(38.2%fib), any close above will push the pair towards 2.2803(SMA 20).
• Immediate support is seen at 2.2541(Lower BB) and break below could take the pair towards 2.2454(Lower BB).
Recommendation: Good to sell around 2.2730 with stop loss of 2.2860 and target price of 2.2670
