(Last Updated March 26, 2021 23:21 GMT)
At the time of this writing, GBPNZD’s rate is down -5 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPNZD has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of GBPNZD continues; to start today, it came in at a price of 1.97333, up 95 pips (0.49%) since the day prior. Relative to other instruments in the Forex asset class, GBPNZD ranked 4th the day prior in terms of percentage price change. Here is a price chart of GBPNZD.
GBPNZD Technical Analysis
Coming into today GBPNZD is now close to its 20 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 358.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days GBPNZD’s price has gone up 19 them.