(Last Updated September 3, 2021 2:20 GMT)
At the time of this writing, GBPNZD’s rate is down -10 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)
GBPNZD is down 32 pips (0.16%) since the previous day (opening today near 1.94579), marking the 3rd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, GBPNZD ranked 26th the previous day in terms of percentage price change. The price chart of GBPNZD below illustrates.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.9736, 1.9754, 1.9649 and 1.9407 respectively, and thus may be at a key juncture along those timeframes. 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 51.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 17 out of the past 30 days.