• GBP/NZD was little changed on Friday as as investors assessed the outlook for the UK economy after latest UK economic data
• UK manufacturing output contracted more than anticipated in December, signaling deeper challenges amid economic uncertainty.
• Weakening outlook for the British economy, combined with more dovish signals from the Bank of England, has kept pressure on the pound.
• Immediate resistance is located at 2.2217 (38.2%fib), any close above will push the pair towards 2.2393(23.6%fib).
• Immediate support is seen at 2.2072 (50%fib) and break below could take the pair towards 2.1932 (61.8%fib).
Recommendation: Good to sell around 2.2100, with stop loss of 2.2300 and target price of 2.2000
