• GBP/NZD steadied on Wednesday as investors closely monitoring the latest flare-up between the U.S. and Iran.
• Iran’s Revolutionary Guards said they launched missile and drone attacks on U.S. bases in Jordan, Kuwait, and Bahrain in retaliation for American strikes near the Strait of Hormuz.
• Currency markets largely shrugged off the latest attacks, focusing instead on hopes for a resolution to the conflict.
• Markets are focused on Friday’s UK GDP data, with more key catalysts for sterling expected next week.
•The BoE’s rate decision is due on June 18, with markets pricing a 90% chance of no change, while investors watch for guidance on the policy outlook.
• Immediate resistance is located at 2.3177(38.2%fib), any close above will push the pair towards 23265(Higher BB).
• Immediate support is seen at 2.2953(50%fib) and break below could take the pair towards 2.2884(SMA 20).
Recommendation: Good to sell around 2.3040 with stop loss of 2.2950 and target price of 2.3100
