• GBP/NZD declined on Tuesday as investors digested Bank of England Governor Andrew Bailey comments and monitored potential fallout from new U.S. tariffs.
• Bank of England Governor Andrew Bailey said a March rate cut was possible, though services inflation closely monitored by the central bank — has not eased as much as hoped.
• Andrew Bailey told lawmakers he needs more evidence before backing a rate cut at the March 19 policy meeting, after voting with a 5–4 majority on the Monetary Policy Committee to keep rates unchanged this month.
• Meanwhile, investors faced renewed uncertainty over U.S. tariffs after a 10% levy took effect just after midnight Tuesday, while the timing of Donald Trump’s proposed increase to 15% remains unclear.
• The pair has seen 2.2691 - 2.2602 range on Tuesday , chart points to an drop towards level 2.2500.
• Immediate resistance is located at 2.1626 (SMA 20), any close above will push the pair towards 2.2808(Higher BB).
• Immediate support is seen at 2.2602(38.2%fib) and break below could take the pair towards 2.2471(Lower BB).
Recommendation: Good to sell round 2.2620, with stop loss of 2.2750 and target price of 2.2500
