FxWirePro: GBP/NZD slips amid trade tensions and market volatility

• GBP/NZD slipped lower on the day, weighed down by renewed market volatility stemming from abrupt shifts in U.S. trade policy and heightened tensions between Washington and Beijing.

•The pair saw sharp fluctuations throughout the week, as traders reacted to an increasingly unpredictable trade environment and sought safe-haven assets amid growing concerns over global economic stability.

• The lack of clarity on long-term US trade policy has further fueled market anxiety, raising concerns about supply chain disruptions, slower global growth, and rising inflationary pressures.

•  On the data front, British gross domestic product grew at a monthly pace of 0.5% in February, the Office for National Statistics said on Friday, beating all forecasts.  

• Immediate resistance is located at 2.2769(38.2%fib), any close above will push the pair towards 2.2841(March 31st high).

• Immediate support is seen at 2.2395(50%fib) and break below could take the pair towards 2.2219(Lower BB).

Recommendation: Good to buy around 2.2400, with stop loss of 2.2300, and target price of 2.2520