• GBP/NZD dipped on Friday after data showed Britain's economy showed zero growth in the final three months of 2022.
•Monthly gross domestic product data for December - when there were widespread strikes in the public sector, rail and postal services - showed a 0.5% contraction
• The pound erased Thursday’s gains against the kiwi dollar , the pair was last down at 0.17% at 1.9115 .
• Technicals are favouring bearish sentiment as RSI is at 49 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.9199 (38.2% fib), any close above will push the pair towards 1.9250(Jan 3rd high)
• Strong support is seen at 1.9095 (50% fib)and break below could take the pair towards 1.9067 (14DMA).
Recommendation: Good to sell around 1.9120 with stop loss of 1.9200 and target price of 1.9030
