FxWirePro: GBP/NZD trends higher, but faces potential pitfalls

• GBP/NZD strengthened  on Friday  as kiwi dollar weakened against pound amid risk-off sentiment due to lingering trade war concerns.

• Investor remained cautious as President Trump prepared to impose reciprocal tariffs on key trading partners starting April 2.

• U.S. February PCE data are expected to drive market direction, while Ukraine ceasefire talks will also be closely watched next week..

• Finance Minister Rachel Reeves will present the UK budget on March 26, with expectations of major spending cuts, adding pressure to the already sluggish economic expansion.

• Immediate resistance is located at 2.2656(38.2%fib), any close above will push the pair towards 2.2923(Higher BB).

• Immediate support is seen at 2.2467 (38.2%fib) and break below could take the pair towards 2.2317(50%fib).

Recommendation: Good to buy around 2.2500, with stop loss of 2.2410, and target price of 2.2600