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

• GBP/NZD dipped on Tuesday as investors awaited potential U.S.-Iran talks following signs of improved oil flows through the Strait of Hormuz.

• Investors remained cautious ahead of potential U.S.-Iran talks at the U.N. General Assembly this week after oil supplies increased through the strait over the weekend..

• Oil prices fell to two-week lows as Gulf supply prospects improved, with Iran signalling a possible seven-day reopening of the Strait of Hormuz and Saudi Arabia preparing to resume Red Sea exports.

• On the data front, agauge of British factory orders rose ​this month ⁠to reach its highest level since July 2023, a survey showed, adding to recent signs of resilience in Britain's economy.

• Immediate resistance is located at 2.3542 (23.6%fib), any close above will push the pair towards 2.3661(Higher BB).

• Immediate support is seen at 2.3254(38.2%fib) and break below could take the pair towards 2.3179(SMA 20).

Recommendation: Good to buy around 2.3250, with stop loss of 2.3140 and target price of 2.3330

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