FxWirePro: GBP/NZD down trend loses steam, remains on bearish path

• GBP/NZD recovered some ground on Thursday  as the pair stabilized in a market environment marked by cautious sentiment.

• Investor optimism on Middle East peace improved late in the U.S. session after Benjamin Netanyahu said Israel is open to peace talks with Lebanon, including the disarmament of Iran-linked Hezbollah.

•The announcement shook off some market anxiety the day after an Israeli bombardment of Lebanon killed more than 300 people and appeared to place Donald Trump's U.S.-Iran peace process in jeopardy

• Iran had indicated that Lebanon should be part of the ceasefire that was announced on Tuesday night.

• On the data front Britain’s housing market slowed sharply last month, as uncertainty linked to the Iran war unsettled buyers and rising mortgage rates dampened demand, a survey by the Royal Institution of Chartered Surveyors showed.

• Immediate resistance is located at 2.2987 (61.8%fib), any close above will push the pair towards 2.3021(April 9th high).

• Immediate support is seen at 2.2808(38.2%fib) and break below could take the pair towards 2.2744(Lower BB).

Recommendation: Good to sell around 2.2970 with stop loss of 2.2300  and target price of 2.2850