• 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
