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FxWirePro: GBP/NZD range to extend until there is game changing news

• GBP/NZD extended gains  on Thursday  as GBP  benefited from upbeat UK GDP data and   diverging monetary policy outlooks between the Bank of England (BoE) and the RBNZ .

• Official figures released on Thursday showed that the UK economy grew 0.3% in the second quarter of 2025, following a notably strong 0.7% expansion in the first quarter.

• Combination of robust economic data and differing central bank outlooks provided broad-based support for the pound against the Australian dollar.

• Technicals are favoring bullish sentiment as RSI is at 70 and the pair is trading above 11 & 21-DMAs. 

• Immediate resistance is located at 2.2896 (Daily high ), any close above will push the pair towards 2.2989 (38.2%fib).

• Strong support is seen at 2.2767(50%fib) and break below could take the pair towards 2.2681( Daily low).

Recommendation: Good to buy   around 2.2850, with stop loss of 2.2700 and target price of 2.2940

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