FxWirePro: GBP/NZD uptrend loses momentum but bullish setup remains

• GBP/NZD edged lower  on Tuesday     as the Middle East conflict drove ​a surge in oil prices, fuelling worries about inflation and ‌slowing economic growth..

• U.S. President Donald Trump told aides he may end the Iran campaign even if the Strait of Hormuz stays largely closed, leaving its reopening for later.

• Official data from the ONS confirmed that ​Britain's economy barely expanded at the end of 2025, adding to the ​challenge for the government to keep growth on track this year with the Iran ‌war ⁠likely to push up inflation and hit demand.

• A BRC survey showed shop price inflation rose in March, putting the Bank of England in focus as it monitors food prices and inflation expectations.

• Investors are betting on two, or possibly three, ​quarter-point rate hikes ​by the Bank ⁠of England before the end of this year, a sharp reversal from rate cuts seen by traders before the ​conflict.

• Immediate resistance is located at 2.3068 (50%fib), any close above will push the pair towards 2.3225(38.2%fib).

• Immediate support is seen at 2.3015(Daily low) and break below could take the pair towards 2.2916(61.8%fib).

Recommendation: Good to buy around 2.3000 with stop loss of 2.2950 and target price of 2.3080