FxWirePro: GBP/NZD loses momentum but outlook is bullish

• GBP/NZD eased slightly on Tuesday   after data showed UK economic growth slowed in second quarter.

• Britain’s economy slowed in Q2 2025 following a strong start to the year, official figures revealed on Tuesday, underscoring the challenges Finance Minister Rachel Reeves faces ahead of November’s annual budget.

• The UK economy expanded by 0.3% in the second quarter, slowing from a 0.7% growth rate recorded in the first quarter. 

• Separate data showed,Britain’s current account deficit widened to 28.939 billion pounds ($38.9 billion) in Q2, surpassing all Reuters poll forecasts. This marks its largest gap in two years, equivalent to 3.8% of GDP, up from 2.8% in Q1 2025..

•   Immediate resistance is located at 2.3287 (Higher BB), any close above will push the pair towards 2.3355 (23.6% fib).

• Strong support is seen at 2.3076(Sep 26th low) and break below could take the pair towards 2.2963(38.2% fib).

Recommendation: Good to buy  around 2.3200, with stop loss of 2.3100 and target price of 2.3300