• GBP/NZD fell on Friday as pound weakened after a report the UK budget will not include income tax rises.
• Media reports showed that British Prime Minister Keir Starmer and Finance Minister Rachel Reeves have abandoned plans to raise income tax rates, marking a sharp shift just weeks ahead of the November 26 budget.
• Reeves may need tens of billions to meet her fiscal goals, and her comment that “we will all have to contribute” was seen as hinting at a possible break from the election pledge on income tax.
• News of the policy shift, first revealed by the FT on Thursday night, sent pound tumbling Friday.
• Immediate resistance is located at 2.3285 (38.2% fib), any close above will push the pair towards 2.3520 (23.6% fib).
• Immediate support is seen at 2.3153(SMA20) and break below could take the pair towards 2.3091 (50%fib).
Recommendation: Good to sell around 2.3200, with stop loss of 2.3300 and target price of 2.3120


FxWirePro: GBP/AUD gives up early gains after UK GDP shock
FxWirePro: EUR/CAD gives back chunk of early gains, eyes another drop
FxWirePro: EUR/NZD shows upside momentum, but bearish outlook remains
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
Euro Refuses to Die: EUR/JPY Holds 182.50, Eyes 184 Breakout
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900
FxWirePro: AUD/USD dips on soft China data
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro: USD/JPY slips as yen gains ahead of BOJ meet
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support 



