• GBP/NZD extended gains on Friday after data showed UK retail sales volumes rose at fastest pace in nearly two years.
• Between February and April, sales rose 0.8% from the previous three months, the biggest such increase since the three months to August 2021.
• Technicals highlight upside risks. The 10- and 21-day moving averages lend support, daily RSI is rising.
• Immediate resistance is located at 2.0443 (23.6%fib ), any close above will push the pair towards 2.0476(Higher BB).
• Strong support is seen at 2.0303 (Daily low) and break below could take the pair towards 2.0138 (38.2%fib)
Recommendation: Good to buy around 2.0380, with stop loss of 2.0270 and target price of 2.0470
