• GBP/NZD strengthened on Tuesday as escalating trade conflicts following U.S. President Donald Trump's imposition of new tariffs Australian dollar.
•Trump’s 25% tariffs on Mexican and Canadian imports took effect Tuesday, along with a hike in Chinese duties to 20%, escalating trade tensions with top U.S. trading partners.
•Trump's protectionist measures are expected to have a limited impact on the pound, as the UK maintains a more balanced trade relationship with the U.S. This has supported the pound's strength against the euro in recent weeks.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 73,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.293(Daily high), any close above will push the pair towards 2.2809(23.6%fib).
• Immediate support is seen at 2.2567 (38.2%fib) and break below could take the pair towards 2.2457(March 4th low).
Recommendation: Good to buy around 2.2560, with stop loss of 2.2450, and target price of 2.2700
