FxWirePro: GBP/NZD extends decline , vulnerable to more downside

• GBP/NZD extended decline    on Friday   as hopes for US-Iran peace deal boost riskier assets.

• Reports say the U.S. and Iran agreed to extend the ceasefire and ease Hormuz shipping restrictions, pending approval from President Donald Trump..

• U.S. President Donald Trump said he would make a final decision on Friday over a deal with Iran to extend their ceasefire.

• Britain’s reliance on energy imports leaves it more exposed than the U.S. to rising fuel costs, even as oil prices have eased but remain about 30% above pre-war levels.

• Bank of England Governor Andrew Bailey argued that keeping inflation above target is justified under uncertain conditions, while reaffirming that policy tightening has come via eliminating the prospect of rate cuts..

•Money market bets show traders are pricing in at ​least one 25 bps interest rate hike this year ​and ⁠see a 28% chance of another such move, down from 50% probability earlier this week.

• Immediate resistance is located at 2.2649(38.2%fib), any close above will push the pair towards 2.2851(50%fib).

• Immediate support is seen at 2.2447(Daiy low) and break below could take the pair towards 2.2397(23.6%fib).

Recommendation: Good to sell around 2.2500 with stop loss of 2.2700 and target price of 2.2400