• GBP/NZD initially dipped on Thursday but later recovered as investors turned their attention to upcoming developments that could reshape the global trade landscape.
• U.S. President Trump and Chinese President Xi held a phone call on Thursday to address ongoing trade tensions.
•The leaders discussed key issues impacting global markets and agreed to continue negotiations.The call aimed to stabilize relations amid growing economic uncertainty.
• Focus now shifts to Friday’s U.S. nonfarm payrolls and the UK’s employment and wage data due on June 10.
• Immediate resistance is located at 2.2621(50%fib), any close above will push the pair towards 2.2806(Higher BB).
• Immediate support is seen at 2.2385(61.8%fib) and break below could take the pair towards 2.2326(Lower BB).
Recommendation: Good to buy around 2.2460, with stop loss of 2.2350 and target price of 2.2560
