FxWirePro: GBP/NZD maintains bearish h bias with focus on 2.2500

• GBP/NZD  lipped lower   on Thursday  as remarks  from Bank of England interest rate-setter Catherine Mann weighed pound .

• Mann referred to Wednesday’s UK January inflation data as “good numbers,” a remark that markets viewed as potentially paving the way for policy easing.

•  Her comments have strengthened expectations that she may back a rate cut at the Bank of England’s March meeting, raising the likelihood of a near-term policy move.

•  Mann sided with the majority in the Monetary Policy Committee’s narrow 5–4 vote this month to hold rates steady, noting at the time that the moment for a rate cut was approaching..

•  Investors were pricing in roughly an 80% chance of a quarter-point rate cut by the Bank of England in March as of Thursday.

• Immediate resistance is located at 2.2519 (SMA 20 ), any close above will push the pair towards 2.2801(50%fib).

• Strong support is seen at 2.2516(38.2%fib) and break below could take the pair towards 2.2404(Lower BB).

 Recommendation: Good to sell on  around 2.2560 with stop loss of 2.2650 and target price of 2.2500