(Last Updated January 13, 2021 2:21 GMT)
At the moment, GBPNZD’s rate is up 10 pips (0.05%) from the hour prior. GBPNZD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 200 hour changed directions on GBPNZD; it is now pointing up. 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 47 pips (0.25%) since the day prior (opening today near 1.8912), marking the 4th straight day an increase has occurred. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 14th in terms of percentage change since the day prior. The price chart of GBPNZD below illustrates.
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. Or to simplify this another way, note that out of the past 14 days GBPNZD’s price has gone up 9 them.