• GBP/NZD traded in narrow range on Thursday as markets remained focused on the uncertain outcome of U.S.-Iran peace talks.
• Israel and Lebanon agreed to a ceasefire to end hostilities, the Trump administration said on Wednesday, raising hopes for a broader deal.
• Investors remained focused on any signs of a breakthrough after repeated failed negotiations to resolve the Middle East conflict.
• Meanwhile, investors await the US Nonfarm Payrolls (NFP) data for May, which will be released on Friday. Investors will pay close attention to the US official employment data to get fresh cues regarding the Federal Reserve’s (Fed) monetary policy outlook.
• Immediate resistance is located at 2.2933(50%fib), any close above will push the pair towards 2.3073(May 27th high).
• Immediate support is seen at 2.2815(SMA 20) and break below could take the pair towards 2.2724(38.2%fib).
Recommendation: Good to sell around 2.2900 with stop loss of 2.2960 and target price of 2.2800
