• GBP/NZD gained upward traction on Wednesday after U.S. President Donald Trump signalled that the Iran conflict could end soon, helping improve risk sentiment.
• U.S. President Donald Trump said the war in Iran will end soon, but U.S. forces could carry out targeted strikes if needed, hours before he was scheduled to make a primetime address to the nation.
• Bank of England Gov. Andrew Bailey said markets are “getting ahead of themselves” by pricing in interest rate hikes, as the central bank focuses on avoiding further economic damage from the Iran war and balancing growth, jobs, and inflation.
• Interest rate futures were fully pricing in one 25 basis-point increase in the BoE's bank rate by the end of 2026, and the possibility of a second compared, with two or three hikes previously.
• Technicals are favoring bullish sentiment as RSI is at 64 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 2.3240(38.2%fib ), any close above will push the pair towards 2.3295 (Higher BB).
• Strong support is seen at 2.3079 (50%fib) and break below could take the pair towards 2.3000(April 2nd low).
Recommendation: Good to buy around 2.3090, with stop loss of 2.3000 and target price of 2.3150
