• GBP/NZD traded in tight range on Tuesday as market participants remained cautious amid rising global trade tensions and renewed political pressure on the U.S. Federal Reserve
• The move reflected broader risk-off sentiment, as investors closely monitored the implications of U.S. President Donald Trump’s continued criticism of Fed Chair Jerome Powell.
• Trump’s persistent pressure on the Fed to cut interest rates has raised fresh concerns about the central bank's independence, adding another layer of uncertainty to already fragile market sentiment.
• Traders remained cautious, reducing exposure to risk-sensitive pairs like GBP/AUD while awaiting further clarity on trade talks and central bank moves.
• Immediate resistance is located at 2. 2476 (38.2%fib), any close above will push the pair towards 2.2685(March20th high).
• Immediate support is seen at 2. 2256 (50%fib) and break below could take the pair towards 2.1992(61.8fib).
Recommendation: Be on sideliness
