GBPNZD Down 14 Pips On Hourly Chart, 2 Day Down Streak Broken; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated July 23, 2021 23:20 GMT)

Currently, GBPNZD’s rate is down -14 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 1.97291, up 33 pips 0.17% from yesterday. Out of the 39 instruments in the Forex asset class, GBPNZD ended up ranking 14th for the day in terms of price change. Below is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Coming into today GBPNZD is now close to its 20, 50, 100 and 200 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPNZD, with 0 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Why get subbed to me on Tradingview? -TOP author on TradingView-2000+ ideas published-15+ years experience in markets-Professional chart break downs-Supply/Demand Zones-TD9 counts / combo review-Key S/R levels-No junk on my charts-Frequent updates-Covering FX/crypto/US stocks-before/after analysis-24/7 uptime so constant updates🎁Please hit the like button and🎁Leave a comment to support our team! GBPNZD H1: +175 pips Best Level to SHORT IT(SL/TP)(NEW)IMPORTANT NOTE: speculative setup. do your owndue dill. use STOP LOSS. don’t overleverage.Updated/revised with mid-term plan. ::: GBPNZD H1/candle chart review::: updated/revised outlook::: re-short into the bounce/short::: any rips from overhead::: final TP BEARS is +175 pips::: SHORT it from D/PRZ::: likely will trigger this Friday::: speculative XABCD setup::: wait for reversal / SHORT HIGH::: BEARS can SHORT from D/PRZ::: TP BEARS is +100 / +175 pips::: reversal pending from overhead::: final PUMP before REVERSAL later::: speculative XABCD BEARS::: PRZ/D near 9840: best reload BEARS::: BEARS will target recent lows::: recommended strategy: SHORT IT / 9840::: SL 30 TP1 +100 pips TP2 +175 pips::: nice low risk setup::: might get triggered this coming week::: SHORT/HOLD – swing trade setup::: SWING trade setup do not expect::: fast/miracle overnights gains here::: good luck traders🔸 Supply/Demand Zones::: N/A::: N/A🔸 Other noteworthy technicals/fundies::: TD9 /Combo update: N/A::: Sentiment short-term: BEARS/REVERSAL::: Sentiment outlook mid-term: BEARS/REVERSAL RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.Please consider carefully if such trading is appropriate for you.Past performance is not indicative of future results.Always limit your leverage and use tight stop loss.