• GBP/NZD dipped Monday as improved risk sentiment and stronger China industrial production and retail sales data supported the kiwi dollar.
• Risk sentiment improved as markets reacted to signals of de-escalation from President Donald Trump, alongside ongoing geopolitical developments and stronger Chinese data.
• Industrial output in China rose 6.3% y/y in the January–February period, up from 5.2% previously and above market expectations of 5.1%.
• China’s retail sales increased 2.8% year-on-year in the first two months of 2026, according to data from the National Bureau of Statistics of China..
• European Commission President Ursula von der Leyen said Europe's response to disruption to oil and gas and spikes in energy prices in the Middle East must be temporary and targeted.
• Immediate resistance is located at 2.2893 (Higher BB), any close above will push the pair towards 2.2934(38.2%fib).
• Immediate support is seen at 2.2701(38.2%fib) and break below could take the pair towards 2.2648(SMA 20).
Recommendation: Good to sell around 2.2740 with stop loss of 2.2800 and target price of 2.2650
