GBP/NZD 4 Hour Price Update
Updated June 25, 2020 01:13 PM GMT (09:13 AM EST)
GBP/NZD entered the current 4 hour candle at 1.9376, up 45 pips (0.23%) from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, GBP/NZD ended up ranking 5th for the four-hour candle in terms of price change.
GBP/NZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBP/NZD is up 9 pips (0.04%) since yesterday (opening today near 1.93826), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, GBP/NZD ranked 15th yesterday in terms of percentage price change. Let’s take a look at price chart of GBP/NZD.
GBP/NZD Technical Analysis
Notably, the current price of GBP/NZD 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. 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 37.4 pips away. Volatility for GBP/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBP/NZD’s price has gone up 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPNZD, with 15 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.88, which is neutral. As for the rationale, technical traders seem to be citing the appearance of divergence, fibonacci and relative strength index technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.