• GBP/NZD edged higher but gains were limited as investors adopted a cautious stance ahead of pivotal trade discussions between the United States and China scheduled for the weekend in Switzerland.
• The anticipated talks aim to address longstanding tariff disputes that have strained global trade relations.
• Investors remain attentive to the U.S.-China discussions, as any breakthroughs could reshape global trade dynamics.
• The GBP/NZD pair's direction will likely hinge on the outcomes of these talks and subsequent shifts in investor sentiment.
•Technical signals are bearish as RSI is at 49, daily momentum studies 11, 14 and 21 DMAs are trending down.
• Immediate resistance is located at 2.2491(50%fib), any close above will push the pair towards 2.2610(Higher BB).
• Immediate support is seen at 2.2200 (61.8%fib) and break below could take the pair towards 2.2129(Lower BB).
Recommendation: Good to sell around 2.2450, with stop loss of 2.2550 and target price of 2.2360
