•GBP/NZD initially dipped but recovered ground as market digested New Zealand jobs data.
• Data from Statistics New Zealand showed on Wednesday that the unemployment rate rose to 5.4% in the fourth quarter of 2025, up from 5.3% in Q3.
• The unemployment rate rose to 5.4% in the December quarter, up from 5.3% in the September quarter and 5.2% in the June quarter, extending the gradual upward trend in joblessness.
. • Technical signals are bearish as RSI is at 31, momentum studies 11,14 and 21 DMAs are trending down.
• Immediate resistance is located at 2.2790(38.2%fib), any close above will push the pair towards 2.2967(Jan 28th high).
• Immediate support is seen at 2.2593 (23.6%fib) and break below could take the pair towards 2.2510(Lower BB).
Recommendation: Good to sell around 2.2700, with stop loss of 2.2850 and target price of 2.2550
