(Last Updated March 31, 2021 0:22 GMT)
At the moment, GBPNZD’s rate is up 2 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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)
The back and forth price flow continues for GBPNZD, which started today off at 1.96578, down 75 pips 0.38% from yesterday. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 34th 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 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 233 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPNZD’s price has gone up 17 them.