GBPNZD Up 19 Pips On Hourly Chart; Entered Today Down For the 3rd Consecutive Day

Hourly Update

(Last Updated January 7, 2021 2:21 GMT)

At the moment, GBPNZD’s rate is up 19 pips (0.1%) from the hour prior. This is the 3rd consecutive hour GBPNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

GBPNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPNZD is down 132 pips (0.7%) since the day prior (opening today near 1.8639), marking the 3rd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, GBPNZD ranked 36th the day prior in terms of percentage price change. The price chart of GBPNZD below illustrates.

GBPNZD

GBPNZD Technical Analysis

The first thing we should note is that the current price of GBPNZD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 5 out of the past 10 days.