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

• GBP/NZD initially fell but gained some ground   as U.S. President Donald Trump's   sweeping tariffs stoked fears of a global trade war and economic recession

• The base 10% tariffs went into effect on April 5, while the higher reciprocal rates will be effective on April 9.

•Prime Minister Keir Starmer stated that Britain will strive to secure an economic partnership with the U.S. while also focusing on reducing trade barriers with key global partners following Trump's tariffs.

• On the data front, British house prices unexpectedly dropped in March, as per Halifax data, signaling a cooling market following a rush to buy ahead of a tax break expiry.

• The focus remains on how these tariffs will influence global trade flows and economic growth, with investors seeking safe-haven assets amid escalating trade war fears.

• Immediate resistance is located at 2.3135(High BB), any close above will push the pair towards 2.3310(23.6%fib).

• Immediate support is seen at 2.2944(38.2%fib) and break below could take the pair towards 2.2644(50%fib).

Recommendation: Good to buy around 2.3000, with stop loss of 2.2850, and target price of 2.3300