FxWirePro: GBP/NZD uptrend loses steam, remains on bullish path

• GBP/NZD slipped lower on Thursday as renewed U.S.-Iran hostilities kept investors on edge.

• Tehran launched attacks on U.S. military infrastructure in Gulf states after U.S. strikes on Iran, while Iran's Revolutionary Guards said the conflict was disrupting the gradual opening of the Strait of Hormuz.

• Crude prices declined 2.9%,reversing gains from earlier in the session. Markets were hopeful that the new strikes would not lead to prolonged oil supply disruption even though the fragile U.S.-Iran peace deal hangs in the balance..

•Meanwhile, money markets ​show traders believe there will be at least one rate hike this year from the BoE, with the chances of a second currently around 25%. A few weeks ago, as many as three were priced in ​at one point..

• Immediate resistance is located at 2.3325(38.2%fib), any close above will push the pair towards 2.3538(23.6%fib).

• Immediate support is seen at 2.2370(Daily low) and break below could take the pair towards 2.3155(50%fib).

Recommendation: Good to buy around 2.3270  with stop loss of 2.3170  and target price of 2.3360