FxWirePro: GBP/NZD continues to recovers , upside pressure builds

• GBP/NZD moved slightly higher on Friday as optimism over US-Iran peace negotiations combined with   upbeat UK retail sales data supported pound.

• Iran’s Foreign Minister Abbas Araqchi said in a post on X that the Strait of Hormuz is open following a ceasefire agreement in Lebanon.

  • Additionally, the Israel–Lebanon ceasefire was extended by three weeks after a high-level White House meeting, according to U.S. President Donald Trump.

• UK retail sales returned to growth last month, driven by motorists stocking up on fuel as prices surged amid the Iran war, according to official data..

• The Office for National Statistics (ONS) said total retail sales volumes, which measure quantity bought, rose 0.7% in March.

• Immediate resistance is located at 2.3033 (SMA 20), any close above will push the pair towards 2.3172(38.2%fib).

• Immediate support is seen at 2.2944 (50%fib) and break below could take the pair towards 2.2851(Lower BB).

Recommendation: Good to buy around 2.2300 with stop loss of 2.2900  and target price of 2.2380