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FxWirePro:GBP/NZD maintains bid, keeping focus on 2.2100 level

•  GBP/NZD steadied   around 2.1976 as the kiwi dollar remained weak, driven by expectations of further significant interest rate cuts from the Reserve Bank of New Zealand.

• Swap markets now price in a 90% chance of a 50 bps cut next month, with the RBNZ expected to lower rates by 100 bps in 2025.

•Rally towards is  2.2100 possible if GBP/NZD bulls overcome resistance at 38.2%fib

• Immediate resistance is located at 2.2008(38.2%fib), any close above will push the pair towards 2.1147(23.6%fib).

• Immediate support is seen at 2.1897 (50%fib) and break below could take the pair towards 2.1798(61.8%fib).

Recommendation: Good to buy around  2.1960, with stop loss of 2.1800 and target price of 2.2100

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