• GBP/NZD rose on Friday as escalating tensions between Israel and Iran prompted investors to shun risk-sensitive currencies like the New Zealand dollar.
• Israel launched strikes on Iran Friday, targeting nuclear sites and missile factories in a bid to prevent Tehran from developing a nuclear weapon
• Trump urged Iran to strike a nuclear deal, suggesting the country’s refusal to comply with a U.S. ultimatum on uranium enrichment led to the Israeli assault.
• A daily close above (50%fib ) will further improve the technical outlook, and open the possibility of a rally towards 2.2700 level.
•Technical signals are strongly bullish as RSI is at 53, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.2593(50%fib), any close above will push the pair towards 2.2789(Higher BB).
• Immediate support is seen at 2.2342 (61.8%fib) and break below could take the pair towards 2.2272(Lower BB).
Recommendation: Good to buy around 2.2560, with stop loss of 2.2450 and target price of 2.2700
