• GBP/NZD firmed on Friday as pound was supported by positive UK economic data..
• British retail sales unexpectedly increased by 1.0% in February compared to January, according to data released by the Office for National Statistics on Friday.
• This marked the second straight monthly increase in retail sales, after a dismal reading in December, the key month for holiday shopping.
.• A separate data release on Friday showed the UK economy expanded 0.1% in the fourth quarter, as economists polled had expected.
• Immediate resistance is located at 2.2726(23.6%fib), any close above will push the pair towards 2.2803(Higher BB).
• Immediate support is seen at 2.2512 (38.2%fib) and break below could take the pair towards 2.2407(March 26th low).
Recommendation: Good to buy around 2.2620, with stop loss of 2.2550, and target price of 2.2730
