(Last Updated November 19, 2020 2:20 GMT)
Currently, GBPNZD’s rate is up 20 pips (0.1%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 100 hour changed directions on GBPNZD; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
GBPNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of GBPNZD continues; to start today, it came in at a price of 1.91423, down 74 pips (0.38%) since the day prior. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 33rd in terms of percentage change since the day prior. Let’s take a look at price chart of GBPNZD.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone down 6 them.