FxWirePro: GBP/NZD stuck in range but maintains bearish bias

• GBP/NZD edged lower  but downside was limited as investors adopted a cautious trading approach due to escalating  Mideast conflict.

• Over the weekend, U.S. and Israeli strikes killed Iran’s Supreme Leader Ayatollah Ali Khamenei, prompting Iran to retaliate with missiles and drones across the Middle East.

•Geopolitical tensions added to market uncertainty, with Trump stating that military operations related to Iran could continue for 4–5 weeks as the conflict expands.

• New Zealand’s high dependence on imported energy makes its economy more vulnerable to rising global energy prices.

• Immediate resistance is located at 2.2578 (SMA 20), any close above will push the pair towards 2.2603(38.2%fib).

• Immediate support is seen at 2.2446 (Lower BB) and break below could take the pair towards 2.2416(23.6%fib).

Recommendation: Good to sell around 2.2550 with stop loss of 2.2640 and target price of 2.2460