FxWirePro: GBP/NZD neutral in the near-term, scope for downward resumption

• GBP/NZD slipped lower on Thursday  as  upbeat New Zealand retail sales  data boosted kiwi dollar across the board

• New Zealand’s retail sales volume rose a seasonally adjusted 1.9% quarter-on-quarter in Q3 2025, data from Statistics New Zealand showed on Thursday.

• Core retail sales rose 1.2% quarter-on-quarter, beating expectations of a 0.8% gain and accelerating from the prior quarter’s 1.0% increase.

• Separtately, New Zealand’s business confidence surged to an 11-year high in November, signalling that an economic recovery is underway, a survey by ANZ Bank showed on Thursday.

•A net balance of 67.1% of respondents foresee economic improvement over the next year, versus 58.1% in October, with 53.1% also expecting their own businesses to expand, up from 44.6%.

• Immediate resistance is located at 2.3244(SMA 20), any close above will push the pair towards 2.3281 (38.2%fib).

• Immediate support is seen at 2.3086 (50%fib) and break below could take the pair towards 2.3002 (Lower BB).

Recommendation: Good to sell around 2.3150 with stop loss of 2.3250 and target price of 2.3000