(Last Updated November 19, 2021 1:43 GMT)
At the moment, GBPNZD’s rate is down -17 pips (-0.09%) from the hour prior. This is the 2nd straight hour GBPNZD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 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)
A moment of silence, please, for the end of GBPNZD’s 5 day up streak; price ended the previous day down 82 pips (-0.42%) to finish the day at a rate of 1.91867. Relative to other instruments in the Forex asset class, GBPNZD ranked 37th the previous day in terms of percentage price change. Below is a price chart of GBPNZD.
GBPNZD Technical Analysis
The first thing we should note is that GBPNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 20 day average, which is 89.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Volatility for GBPNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days GBPNZD’s price has gone up 7 them.