GBP/NZD Up 10 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated January 7, 2022 1:41 GMT)

At the time of this writing, GBPNZD’s rate is up 10 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 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 115 pips (0.58%) since the previous day (opening today near 2.00653), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, GBPNZD ended up ranking 7th for the day in terms of price change. Here is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Coming into today GBPNZD is now close to its 20 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 359.7 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.