GBPNZD Down 10 Pips On Hourly Chart, 3 Day Up Streak Ended; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated July 30, 2021 10:21 GMT)

Currently, GBPNZD’s rate is down -10 pips (-0.05%) from the hour prior. This is the 2nd straight hour GBPNZD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

GBPNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPNZD, which opened today priced near 1.99115, is down 67 pips 0.33% since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Below is a price chart of GBPNZD.

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 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 15 out of the past 30 days.