FxWirePro: GBP/NZD slips lower, remains on bearish path

• GBP/NZD  dipped on Friday as persistent Middle East tensions and growing inflation worries weighed on the pair.

• Iran’s Foreign Ministry said discussions with Oman over transit routes through the Strait of Hormuz were making positive progress, with both sides focusing on ensuring safe maritime passage and addressing security concerns..

• Meanwhile, reports indicated that Iran and Oman were exploring the possibility of reopening the Strait of Hormuz, while Qatar said diplomatic efforts to mediate an end to the U.S.-Israeli conflict were making progress.

• Treasury Secretary Scott Bessent said talks with Iran over the Strait of Hormuz were moving closer to a potential agreement, echoing the positive assessment previously expressed by Secretary of State Marco Rubio.

• On the data front, British retail sales in July fell as expected after a surge in June, according to official figures released on Friday.

• Immediate resistance is located at 2.2887(50%fib), any close above will push the pair towards 2.39458(SMA20).

• Immediate support is seen at 2.2771(Lower BB) and break below could take the pair towards 2.2687(38.2%fib).

Recommendation: Good to sell around 2.2950 , with stop loss of 2.3050 and target price of 2.2860