• GBP/NZD strengthened on Friday as traders clung to hopes that Britain will recover from economic slump despite weak UK GDP data .
• GBP/NZD remained relatively well bid as traders expect the UK's rapid vaccine rollout, and much-reduced Brexit overhang, to positively affect near-term UK growth and inflation.
• Scope grows for an eventual retest of 1.9224 resistance ,a daily close above 1.9224 will accelerate bulls towards 1.9366 (23.6%fib)
• Technical are bullish, daily RSI is positive at 57, daily momentum studies 5,9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9224 (50%fib ), any close above will push the pair towards 1.9300 (Psychological level).
• Strong support is seen at 1.9111 (50%fib) and break below could take the pair towards 1.9055 (21DMA).
Recommendation: Good to sell on around 1.9150, with stop loss of 1.9000 and target price of 1.9280
