• GBP/NZD moved slightly higher on Friday as optimism grew that Iran’s reopening of the Strait of Hormuz could lead to a quicker resolution of the conflict and stabilize energy markets...
• Iran’s Foreign Minister Abbas Araqchi said in a post on X that the Strait of Hormuz is open following a ceasefire agreement in Lebanon.
• U.S. President Donald Trump said a peace deal with Tehran could come “soon,” though no clear timeline was provided.
• Oil prices plunged below $90 a barrel following the announcement, lifting stocks and government bonds higher.
• Meanwhile,Bank of England Chief Economist Huw Pill said on Friday that the central bank's main focus should be getting inflation to its 2% target.
• Immediate resistance is located at 2.2348 (SMA 20), any close above will push the pair towards 2.3162(61.8%fib).
• Immediate support is seen at 2.2933 (50%fib) and break below could take the pair towards 2.2781(Lower BB).
Recommendation: Good to sell around 2.2300 with stop loss of 2.2360 and target price of 2.2230
