• GBP / NZD traded within a narrow range on Thursday as traders awaited further developments on the tariff front.
•Recent reports, including strong GDP figures and solid employment statistics, have reassured investors that the UK economy is not as vulnerable to the global trade turmoil as previously feared.
• Focus will be on UK flash PMIs and comments by Bank of England officials next week, as investors seek clearer signals on the health of the UK economy and the future direction of interest rates.
•The flash PMIs covering the manufacturing and services sectors will provide an early snapshot of economic activity in April, helping gauge whether growth momentum is holding up amid ongoing global uncertainties
• Immediate resistance is located at 2.2300(Daily high), any close above will push the pair towards 2.2477 (50% fib).
• Strong support is seen at 2.2179(61.8% fib) and break below could take the pair towards 2.2026 (Lower BB)
Recommendation: Be on sidelines
