GBPNZD Up 8 Pips in Last Hour, Crosses 20 and 50 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 28, 2021 9:20 GMT)

Currently, GBPNZD’s rate is up 8 pips (0.04%) from the hour prior. The hourly chart shows that GBPNZD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 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 choppiness in the recent daily price action of GBPNZD continues; to start today, it came in at a price of 1.9741, up 55 pips (0.28%) since yesterday. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 8th 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 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.