• GBP/NZD firmed on Monday as the kiwi dollar weakened after RBNZ Governor Anna Breman signaled that interest rate hikes are off the table for now
• Breman said economic developments are broadly in line with RBNZ forecasts and that inflation is expected to reach the 2% target by mid-2026.
• The RBNZ chief warned that financial market conditions have tightened in recent weeks, prompting investors to scale back expectations for rate hikes next year.
• The governor’s remarks come amid renewed discussion over the long gap between the final OCR review of one year and the first review of the next.
• Immediate resistance is located at 2.3149(50%fib), any close above will push the pair towards 2.3224 (23.6%fib).
• Immediate support is seen at 2.2995(SMA 20) and break below could take the pair towards 2.2878(Lower BB).
Recommendation: Good to buy around 2.3060 with stop loss of 2.2960 and target price of 2.3160
