FxWirePro: GBP/NZD gaining momentum for a move towards 2.3350level - EconoTimes
• GBP/NZD ticked higher on Tuesday as kiwi dollar weakned as investors looked for signs of progress in restoring crude flows through the Strait of Hormuz after U.S.-Iran peace talks.•Britain's services sector, the country's main growth driver, contracted at its fastest pace in nearly 3½ years in June, highlighting economic challenges facing likely next prime minister Andy Burnham.• UK S&P Global Services PMI (Jun, flash) fell to 48.7 from 49.3, the weakest since Jan 2023 and below all forecasts in a Reuters poll.• The RBNZ is widely expected to lift its cash rate by 25 basis points to 2.50% at its July policy meeting, with markets pricing rates to reach around 3.35% by the end of next year.
• Immediate resistance is located at 2.3325(Higher BB), any close above will push the pair towards 2.3438(23.6%fibb).• Immediate support is seen at 2.3237(38.2%fib) and break below could take the pair towards 2.3153(23rd June low).Recommendation: Good to buy around 2.3270 with stop loss of 2.3200 and target price of 2.3350Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle MarketsSpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 BillionStagflation Shadows: U.S. Manufacturing Shines as Services Slump to 11-Month LowScarcity and Strife: Bitcoin Hits Historic Milestone Amid Geopolitical TremorsStrategy's Multi-Billion Dollar Bitcoin Accumulation: A 2026 Milestone
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