• GBP/NZD strengthened on Tuesday as investor sentiment improved, driven by hopes that the U.S. might ease its stance on some of its aggressive import tariffs.
•Investors speculated that the U.S. might look to reduce or revise certain tariffs, particularly in areas where trade relations have been strained, such as steel and aluminum imports.
• White House economic adviser Kevin Hassett said U.S. trade negotiators are prioritizing allies as they move forward on trade.
• British Finance Minister Rachel Reeves stated she will meet with U.S. Treasury Secretary Scott Bessent soon to engage in discussions about a new economic partnership, with the goal of lowering the tariff levies imposed on the UK.
•Looking ahead ,the UK GDP data is scheduled for release on Friday. Investors will be watching closely to see how the economy has been impacted by factors such as inflation, consumer spending, and the broader global economic environment.
• Immediate resistance is located at 2.3100(38.2%fib), any close above will push the pair towards 2.3360(April 8th high).
• Immediate support is seen at 2.2780(38.2%fib) and break below could take the pair towards 2.2580(April 7th high).
Recommendation: Good to buy around 2.3000, with stop loss of 2.2850, and target price of 2.3300
