FxWirePro : GBP/NZD runs out of steam but maintains bullish outlook

• GBP/NZD dipped on Monday as renewed geopolitical tensions in the Middle East triggered a wave of risk aversion across global markets.

• The ongoing conflict between Israel and Iran showed no signs of easing, prompting investors to reduce exposure   and shift toward commodity-linked currencies like the Australian dollar.

• Looking ahead, market participants are bracing for a pivotal week dominated by key central bank decisions and high-level geopolitical dialogue.

•Focus will center on upcoming policy announcements from the U.S. Federal Reserve (June 18), Bank of Japan (June 17), and Bank of England (June 19), each of which could significantly influence global risk sentiment, yield curves, and currency valuations.

• The G7 summit in Canada is in focus as leaders meet amid escalating Israel-Iran tensions, with discussions expected to center on global market stability, energy security, and supply resilience.

• Immediate resistance is located at 2.2476 (50%fib), any close above will push the pair towards 2.2582 (38.2%fib)

• Support is seen at 2.2363 (61.8%fib) and break below could take the pair towards 2.2303 (Lower BB).

Recommendation: Good to buy  around 2.2350 with stop loss of 2.2250  and target price of 2.2500