GBPNZD Up 27 Pips Over Past Hour, Entered Today Up For the 2nd Straight Day; Breaks Above 20 Day Average

Hourly Update

(Last Updated January 4, 2021 2:20 GMT)

At the time of this writing, GBPNZD’s rate is up 27 pips (0.14%) from the hour prior. GBPNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 is up 95 pips (0.5%) since the day prior (opening today near 1.89977), marking the 2nd straight day it has gone up. Out of the 40 instruments in the Forex asset class, GBPNZD ended up ranking 6th for the day in terms of price change. Here is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Notably, GBPNZD crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days.