FxWirePro: GBP/NZD downtrend extends, remains on bearish path

• GBP/NZD  dipped on Tuesday  as investors assessed ongoing geopolitical uncertainty in the Middle East.

• Iran's foreign ministry said talks with Oman on Strait of Hormuz transit routes remain positive, with discussions focused on safe shipping lanes and security concerns..

• Treasury Secretary Scott Bessent said negotiations with Iran over the Strait of Hormuz were moving toward a possible agreement, echoing optimistic remarks from Secretary of State Marco Rubio.

•Meanwhile, reports also suggested Iran and Oman were discussing reopening the waterway, while Qatar said mediation efforts to end the U.S.-Israeli conflict were advancing.

• Oil extended losses on a report that Iran may allow Europe to clear mines in the Strait of Hormuz.

• Immediate resistance is located at 2.2991(50%fib), any close above will push the pair towards 2.3020(SMA20).

• Immediate support is seen at 2.2748(38.2%fib) and break below could take the pair towards 2.2699(Lower BB).

Recommendation: Good to sell around 2.2840 , with stop loss of 2.2950 and target price of 2.2780