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FxWirePro:GBP/NZD bullish outlook with scope to target 1.9350 level

• 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

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