• GBP/ NZD rose on Friday as the pair was lifted by UK GDP data and BoE rate expectations.
• Data showed Britain's economy shrank by a less-than-expected 0.2% in December, despite the setback caused by the Omicron variant .
• Today’s rise has passed through the 38.2% fibonacci retrace point at 2.0358 and now eyes the 23.6%fib resistence.
• Immediate resistance is located at 2.0438 (Daily high), any close above will push the pair towards 2.0519 (23.6%fib).
• Support is seen at 2.0358(38.2%fib) and break below could take the pair towards 2.0288 (50%fib).
Recommendation: Good to buy around 2.0360, with stop loss of 2.0220 and target price of 2.0450
