• GBP/NZD held steady on Monday as sterling drew support from easing geopolitical tensions, particularly improving U.S.-Iran relations, and a calmer UK political backdrop following Prime Minister Keir Starmer's resignation.
• Fiscal worries in the UK have subsided after Andy Burnham reaffirmed his commitment to the country's fiscal framework, contributing to a decline in 10-year gilt yields from around 5.2% to 4.72%.
• As political and fiscal tensions subside, market focus is returning to monetary policy, with this week's U.S. employment data expected to provide fresh clues on the Fed's next move.
• On the economic front, a survey showed British companies' expectations for growth in the coming quarter fell this month to their lowest level this year..
• Immediate resistance is located at 2.3487(23.6%fib), any close above will push the pair towards 2.3562(Higher BB).
• Immediate support is seen at 2.3377(June 29th low) and break below could take the pair towards 2.3279(38.2%fib).
Recommendation: Good to sell around 2.3420 with stop loss of 2.3360 and target price of 2.3480
