• GBP/NZD pair held steady on Tuesday as markets reacted positively to news that eased concerns over automotive tariffs, helping to support investor sentiment.
• The White House announced that President Trump is set to sign an executive order on Tuesday aimed at reducing the impact of automotive tariffs, a move intended to reassure concerned investors.
• The change was announced on the same day President Trump traveled to Michigan, the heart of the U.S. auto industry, and just days before a new round of 25% import tariffs on automotive parts was scheduled to take effect.
• Investors are focused on key U.S. economic data this week, including the PCE price index on Wednesday and the jobs report on Friday.
• Immediate resistance is located at 2.2699(50%fib), any close above will push the pair towards 2.2802 (April 10th high).
• Immediate support is seen at 2. 2468 (61.8%fib) and break below could take the pair towards 2.2268(April 28th low).
Recommendation: Good to buy around 2. 2550 with stop loss of 2. 2470, and target price of 2. 2650
