FxWirePro : GBP/NZD loses momentum but bullish setup remains

• GBP/NZD slipped lower  on Tuesday   as investors cautiously scrutinized major trade developments ahead of the fast approaching U.S. tariffs deadline.

• U.S. President Donald Trump raised tariffs on Philippine imports to 19%, up from the 17% rate introduced in April as part of his "reciprocal tariffs" policy targeting

• Markets are keeping a close watch on developments from the White House as the August 1 deadline for the implementation of U.S. tariffs approaches.

•  Markets eye upcoming data releases, with Friday’s retail sales report set to offer fresh insight into consumer strength, while Thursday’s flash PMI is expected to gauge the pace of business activity across key sectors.

• Meanwhile,Markets are pricing in a 25 basis point rate cut by the Bank of England to 4% on August 7, with expectations that rates could decline further to 3.75% by year-end 2025.

• Immediate resistance is located at 2.2669(50%fib), any close above will push the pair towards 2.2715(Higher BB)

• Support is seen at 2.2475 (61.8%fib) and break below could take the pair towards 2.2407 (Lower BB).

Recommendation: Good to buy   around 2.2490 with stop loss of 2.2400  and target price of 2.2570