FxWirePro: GBP/NZD remains buoyant, looks to extend gains

• GBP/NZD edged higher  on Thursday  as kiwi dollar weakened after President Donald Trump   threatened further strikes on Iran.

• Trump said in a televised address that the U.S. would intensify strikes on Iran over the next two to three weeks, offering no clear timeline for reopening the Strait of Hormuz or ending the war, which has unsettled markets.

• Iran is drafting a protocol with Oman ⁠to monitor traffic in the Strait of Hormuz, the official IRNA news agency cited the Deputy Foreign Minister as saying on Thursday.

• UK Foreign Secretary Yvette Cooper will chair a virtual meeting of around 35 countries, including France, Germany, Italy, Canada, and the UAE, on Thursday to discuss restoring freedom of navigation in the region, with the United States not expected to participate..

• Meanwhile,  Markets are pricing in more than ⁠two quarter‑point hikes by the BoE by the end of the year

• Technicals are favouring bullish sentiment as RSI is at 64 and the pair is trading above 5,9 & 11-DMAs. 

• Immediate resistance is located at 2.3240(23.6%fib ), any close above will push the pair towards 2.3312 (Higher BB).

• Strong support is seen at 2.3083 (38.2%fib) and break below could take the pair towards 2.29580(50%fib).

Recommendation: Good to buy   around 2.3130, with stop loss of 2.3000 and target price of 2.3180