• GBP/NZD recovered on Friday after data showed that the U.K. retail sales rebounded in December .
• Data from the Office for National Statistics showed UK retail sales rose 0.4% in December, beating economists’ expectations for no change..
• On an annual basis, retail sales growth accelerated to 2.5% from 1.8% previously, well above expectations of a 1.0% rise.
•separate showed, preliminary S&P Global UK Composite Purchasing Managers' Index for January hit its highest level since April 2024, jumping to 53.9 from 51.4 in December.
• Immediate resistance is located at 2.2943 (38.2%fib), any close above will push the pair towards 2.3090(50%fib).
• Immediate support is seen at 2.2765 (23.6%fib) and break below could take the pair towards 2.2730(Lower BB).
Recommendation: Good to sell around 2.2930, with stop loss of 2.3000 and target price of 2.2900
