FxWirePro : GBP/NZD strongly bearish despite upside attempts

• GBP/NZD initially gained but gave up ground.as market digested   Federal Reserve interest rate decision.

• Federal Reserve kept interest rates unchanged, with the vote split 9-3. Fed officials Hammack, Kashkari, and Logan dissented in favor of a 25-basis-point rate hike, highlighting ongoing concerns over inflation.

•Fed Chair Kevin Warsh maintained a hawkish tone, saying the central bank would not hesitate to act if needed. He emphasized that inflation cannot be resolved quickly, noting that price pressures require sustained policy attention despite recent economic shocks.

• Markets viewed the Fed decision as less hawkish than expected, leading to lower expectations for immediate rate hikes.

•Attention now turns to the Bank of England’s policy meeting on Thursday, where no rate change is expected. A potentially dovish message from the BoE could limit sterling’s gains and reverse part of the recent rally.

• Immediate resistance is located at 2.3159(SMA 20), any close above will push the pair towards 2.3202(61.8%fib)

• Support is seen at 2.2969 (50%fib) and break below could take the pair towards 2.2870(38.2%fib).

Recommendation: Good to sell  around 2.3050 with stop loss of 2.3100  and target price of 2.2900