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FxWirePro: GBP/NZD uptrend loses momentum but bullish setup remains

• GBP/NZD  edged lower on Friday  as investors remained cautious amid European fiscal concerns and geopolitical uncertainty

• Investors will  turn their attention to the UK government's Autumn Budget, scheduled for October 28, which will test the government's ability to manage public finances amid rising borrowing costs and economic pressures.

• Upcoming economic releases are likely to influence market sentiment, with UK August GDP and output data due on October 15, followed by employment figures and consumer price inflation data on October 20–21.

• These releases could provide fresh clues about the strength of the UK economy and the Bank of England's interest-rate outlook. 

• Immediate resistance is located at 2.3656(23.6%fib), any close above will push the pair towards 2.3761(Higher BB).

• Immediate support is seen at 2.3491(38.2%fib) and break below could take the pair towards 2.3431(SMA 20).

Recommendation: Good to buy around 2.3530, with stop loss of 2.3440 and target price of 2.3650

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