• GBP/NZD declined on Friday as the pair was weighed down by down beat UK retail sales data .
• Data on Friday showed British retail sales tumbled much more than expected in January as non-essential shops went back into coronavirus lockdowns.
• At GMT 16:14, the pair was trading down 0.79 percent at 1.9180 after reaching daily high at 1.9388.
• Technicals are favouring bearish sentiment as RSI has turned sharply lower and the pair is trading below 50%fib.
• Immediate resistance is located at 1.9268(50% fib), any close above will push the pair towards 1.9422 (38.2%fib)
• Support is seen at 1.9183 (9DMA ) and break below could take the pair towards 1.9110(61.8% fib).
Recommendation: Good to sell around 1.9190, with stop loss of 1.9280 and target price of 1.9080.
