GBP/NZD Down 10 Pips in Last Hour, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated May 11, 2022 1:46 GMT)

Currently, GBPNZD’s rate is down -10 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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 is up 61 pips (0.31%) since yesterday (opening today near 1.95696), marking the 3rd consecutive day it has gone up. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 5th in terms of percentage change since yesterday. The price chart of GBPNZD below illustrates.

GBPNZD

GBPNZD Technical Analysis

First things first: GBPNZD crossed above its 200 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 17.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. For additional context, note that price has gone up 8 out of the past 14 days.