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FxWirePro: GBP/NZD range to extend until there is game changing news

• GBP/NZD steadied around 2.2131 as investors assessed UK GDP data, potential tariff delays, and ceasefire optimism . • The tariffs were delayed on Thursday, but a White House official mentioned they could be enacted soo…

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FxWirePro: GBP/NZD range to extend until there is game changing news
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• GBP/NZD steadied around 2.2131 as  investors assessed UK GDP data, potential tariff delays, and ceasefire optimism .

• The tariffs were delayed on Thursday, but a White House official mentioned they could be enacted soon as Trump's economic team examines trade ties.

• Britain's economy grew by 0.1% in the fourth quarter, figures from the Office for National Statistics showed.

• Traders are awaiting next week's UK employment and price data for clues on future monetary policy.

• Technicals are favouring bullish sentiment as RSI is at 60 and the pair is trading above 11 & 21-DMAs. 

• Immediate resistance is located at 2.2224 (38.2%fib ), any close above will push the pair towards 2.2280 (Higher BB).

• Strong support is seen at 2.2066(50%fib) and break below could take the pair towards 2.1926(61.8%fib).

Recommendation: Good to buy   around 2.2050, with stop loss of 2.1900 and target price of 2.2150 
 

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