The latest read in UK Retail Sales has improved the British Pound (GBP) over the past few days coming in at 1.0% for February instead of the predicted -0.3% forecast. The GBP along with recent “risk off” sentiment has pushed the cross through 0.4400 (2.2740) support Monday to post 0.4380 (2.2840) this morning a new 2025 low. Apart for tier 2 UK Manufacturing data releasing Friday the NZD/GBP will move based on big picture themes.
Current Level: 2.2799
Resistance: 2.2900
Support: 2.2360
Last Weeks Range: 2.2397- 2.2672