FxWirePro : GBP/NZD slides amid UK fiscal concerns

• GBP/NZD slipped lower on Tuesday as  mounting investor concerns about public UK finances weighed on sterling.

 • The selloff in British gilts occurred alongside declines in other major bond markets, as investors focused on rising debt levels.

• Prime Minister Keir Starmer reshuffled his senior advisers on Monday, bringing finance minister Rachel Reeves’s deputy, Darren Jones, into Downing Street to improve policy coordination..

• Experts noted that the reshuffle at the start of the post-summer parliamentary session underscored the country’s economic pressures, including elevated debt, sluggish growth, and top G7 inflation.

• With the budget not expected until November, Britain faces several weeks of speculation over potential tax increases, which could weigh on investment and consumer confidence.

• Immediate resistance is located at 2.2868(SMA 20), any close above will push the pair towards 2.2966(38.2%fib)

• Support is seen at 2.2816(50%fib) and break below could take the pair towards 2.2672 (61.8%fib).

Recommendation: Good to sell  around 2.2860 with stop loss of 2.2940 and target price of 2.2760