GBP/NZD Down 10 Pips Over Past Hour; Crosses 200 Day Moving Average

Hourly Update

(Last Updated May 13, 2022 1:42 GMT)

At the time of this writing, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)

The back and forth price flow continues for GBPNZD, which started today off at 1.9552, up 100 pips 0.51% from the previous day. Relative to other instruments in the Forex asset class, GBPNZD ranked 8th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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 2.2 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 14 and 30 day timeframes. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPNZD; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The most recent daily candle is an engulfing candle and confirms our continuation to the upside. Trade with care & good luck.Please like and follow for more free ideas/Signals.