FxWirePro: GBP/NZD trims gains after initial rise on BoE rate cut and US -UK trade deal

•  GBP/NZD failed to hold initial strength in the wake of the trade deal and UK rate announcement as investor focus shifted from short-term positive developments to broader economic concerns.

•U.S. President Donald Trump announced a "breakthrough" trade agreement with Britain on Thursday. The deal marks a significant step forward in trade relations between the two nations, but some key details, such as specific tariff reductions or exemptions, remain to be finalized

• The BoE's 5-4 vote cut rates by 25 basis points, with two members calling for a larger 50-point cut. Huw Pill and Catherine Mann preferred to leave rates unchanged.

•The BoE's rate cut followed the U.S. Federal Reserve's decision to hold rates, though it warned of rising inflation and unemployment risks.

•Technical signals are   bearish as RSI is   at 49, daily momentum studies 11, 14 and 21 DMAs are trending down.

• Immediate resistance is located at 2.2491(50%fib), any close above will push the pair towards 2.2610(Higher BB).

• Immediate support is seen at 2.2200 (61.8%fib) and break below could take the pair towards 2.2129(Lower BB).

Recommendation: Good to sell around  2.2450, with stop loss of 2.2550 and target price of 2.2360