FxWirePro: GBP/NZD retreats despite upbeat UK GDP growth data

• GBP/NZD  initially firmed but gave up ground on Thursday  as investors assessed ongoing geopolitical uncertainty in the Middle East and digested UK GDP data

• Investor sentiment remained subdued amid uncertainty over the Middle East conflict, as the U.S. and Iran made competing claims over control of the Strait of Hormuz, a key route for global energy supplies...

• The Office for National Statistics said UK GDP rose 0.3% in June after being flat in May, putting Britain on track for the strongest growth among G7 economies in the first half of 2026.

• Money markets show traders still expect one rate rise from the Bank of England this year, and Thursday's economic data did little to shift that.

• Immediate resistance is located at 2.3175(61.8%fib), any close above will push the pair towards 2.3250(April 20th high).

• Immediate support is seen at 2.2932(50%fib) and break below could take the pair towards 2.2932(38.2%fib).

Recommendation: Good to sell around 2.3050 , with stop loss of 2.3100 and target price of 2.2950