FxWirePro: GBP/NZD neutral in the near-term, scope for downward resumption

• GBP/NZD slipped lower on Friday, weighed down by uncertainty surrounding U.S. trade policy and expectations of an imminent interest rate cut by the Bank of England.

• Investors are gearing up for the Bank of England's rate decision next week, closely watching for any signals on future monetary policy moves.  

• Investors have raised their expectations for interest rate cuts by the Bank of England this year, with the market fully pricing in the possibility of three quarter-point reductions by the end of 2025.

• Immediate resistance is located at 2.2110(50%fib ), any close above will push the pair towards 2.2267(38.2%fib ).

• Strong support is seen at 2.1946 (61.8%fib) and break below could take the pair towards 2.1844(Dec 16th low)

Recommendation: Good to sell  around 2.2050 with stop loss of 2.2100 and target price of 2.1850