• GBP/NZD rose on Friday as unexpected rise in UK Jan retail sales boosted the pair
• Data showed UK sales volumes rose by 0.5% from December for only the second month-on-month increase since August 2021.
• At GMT 16:57, the pair was trading up 0.63 percent at 1.9275
• Technical signals are bullish as RSI is rising at 58, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9286 (23.6%fib), any close above will push the pair towards 1.9300 (Higher BB )
• Strong support is seen at 1.9214 (23rd Nov low) and break below could take the pair towards 1.9150 (38.2%fib).
Recommendation: Good buy around 1.9260, with stop loss of 1.9200 and target price of 1.9350
