• GBP/NZD eased on Friday as lingering uncertainty over a Middle East ceasefire weighed on sentiment.
• The Bank of England says it’s too early to gauge the full economic impact of the Iran war, but early strains are emerging that could constrain policymakers’ options.
• Official data showed retail sales fell in February after logging the strongest growth in a year and a half in January.
• British consumer sentiment fell to its lowest level in nearly a year in March as worries about the economic fallout from the Iran war and the prospect of sharp price increases weighed on households..
• Immediate resistance is located at 2.3226(38.2%fib), any close above will push the pair towards 2.3308(Higher BB).
• Immediate support is seen at 2.3062 ( 50%fib) and break below could take the pair towards 2.2904 (61.8%fib).
Recommendation: Good to buy around 2.3050 with stop loss of 2.2940 and target price of 2.3110
