FxWirePro:GBP/NZD range-bound in the short term, primary trend still bullish

• GBP/NZD pair remained range-bound on Thursday, with limited directional movement as investors adopted a cautious stance ahead of upcoming economic data and global development on tariffs.

• With no major domestic releases from either the U.K. or New Zealand, market participants lacked strong incentives to drive the pair significantly higher or lower.

• Attention remained focused on Friday’s highly anticipated U.S. non-farm payrolls (NFP) report, which could influence global risk sentiment and interest rate expectations, indirectly impacting risk-sensitive currencies.

•On the data front, UK manufacturing activity shrank for the seventh consecutive month in April.The final Manufacturing Purchasing Managers' Index (PMI) rose to 45.4, up from 44.9 in March.

• Immediate resistance is located at 2.2630(50% fib), any close above will push the pair towards 2.2786(April 10th high).

• Immediate support is seen at 2.2401 (61.8% fib) and break below could take the pair towards 2.2280 (April 28th low).

Recommendation: Good buy around 2.2450, with stop loss of 2.2400 and target price of 2.2540