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FxWirePro:GBP/NZD bounces back , focus on US tariffs

• GBP/NZD initially fell but regained ground on Wednesday as the market focused on the potential negative impact of U.S. tariffs on global economic growth.

Trump  is set to announce sweeping reciprocal tariffs on global trading partners at 1600 ET (2000 GMT).

• British finance minister Rachel Reeves stated that London would not hastily respond to any tariffs, aiming to avoid jeopardizing a potential trade deal with Washington..

• Technical signals show the pair could gain more ground in the short-term as RSI is at 57,while moving averages and MACD are trending higher.

• Immediate resistance is located at 2.2789(23.6%fib), any close above will push the pair towards 2.2860(Higher BB ).

• Immediate support is seen at 2.2532(38.2%fib) and break below could take the pair towards 2.2311(50%fib).

Recommendation: Good to buy around 2.2600, with stop loss of 2.2520, and target price of 2.2900

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