GBP/NZD rebounded on Friday as investors waited for outcome of U.S./Iran talks scheduled for the weekend.
• Investor hopes for a break in Middle East hostilities had been boosted when Israel said on Thursday that it was seeking talks with Lebanon.
• Iran has cited Israel's continuing attacks on Lebanon as a key sticking point in its ceasefire agreement with the United States, which requires Iran to reopen the Strait of Hormuz
• With the Strait of Hormuz still largely closed to shipping and on concerns persisting over supplies from Saudi Arabia, oil futures were up modestly.
• Meanwhile the latest inflation report showed that U.S. consumer prices increased by the most in nearly four years in March as the war boosted oil prices.
• Immediate resistance is located at 2.3098 (61.8%fib), any close above will push the pair towards 2.3252(Higher BB).
• Immediate support is seen at 2.3004(SMA 20) and break below could take the pair towards 2.2740(50%fib).
Recommendation: Good to sell around 2.3080 with stop loss of 2.2450 and target price of 2.3000


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