(Last Updated June 10, 2021 18:24 GMT)
At the moment, GBPNZD’s rate is down -11 pips (-0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPNZD has now gone up 4 of the past 5 hours. 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 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 3 pips (0.02%) since yesterday (opening today near 1.96732), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 17th in terms of percentage change since yesterday. Here is a price chart of GBPNZD.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.9599, 1.9482, 1.9373 and 1.9307 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.