FxWirePro: GBP/NZD downtrend loses momentum but bearish setup remains

• GBP/NZD  strengthened  on Tuesday as shift toward risk aversion weighed on the kiwi dollar and broader risk-sensitive assets.

• Risk-sentiment deteriorated after  Trump said no U.S.-Iran talks were underway, while Iran said the Strait of Hormuz would remain closed until Washington met the interim deal’s terms.

•On the data front,Britain’s labour market weakened further in Q2, with slower private-sector wage growth and vacancies falling to their lowest level in more than five years.

•Employment rose by 83,000 in the second quarter, a much smaller increase than the median forecast of 129,000 ​in the Reuters poll and the ​weakest reading for five months.

•Separate data ⁠from the tax office showed the number of payrolled employees fell by 12,850 in July, marking a sixth straight month of decline.

• Immediate resistance is located at 2.3154(Higher BB), any close above will push the pair towards 2.3222(61.8%fib).

• Immediate support is seen at 2.2988(50%fib) and break below could take the pair towards 2.2805(Lower BB).

Recommendation: Good to sell around 2.3060 , with stop loss of 2.3120 and target price of 2.2950