FxWirePro:GBP/NZD edges lower, likely to remain under pressure

• GBP/NZD eased    on Wednesday   as expectations of further monetary policy easing kept bearish pressure on sterling

• Markets seem to overlook new tariff threats from U.S. President Donald Trump, who vowed to impose tariffs on the EU and discussed a 10% duty on Chinese imports.

• Markets are currently pricing in approximately 65 basis points of rate cuts from the Bank of England this year.

• The pair has seen    2.1829 from 2.1728 range on Wednesday  , chart points to an drop towards  level 2.1600.

• Immediate resistance is located at 2.1829 (Jan 22nd high), any close above will push the pair towards 2.1914(50%fib).

• Immediate support is seen at 2.1722(38.2%fib) and break below could take the pair towards 2.1575(Lower BB).

Recommendation: Good to sell round 2.1760, with stop loss of 2.1850 and target price of 2.1620