(Last Updated April 14, 2021 3:21 GMT)
At the time of this writing, GBPNZD’s rate is up 18 pips (0.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPNZD has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)
GBPNZD entered today at 1.94757, down 79 pips (0.4%) from the previous day. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 37th in terms of percentage change since the previous day. The price chart of GBPNZD below illustrates.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.958, 1.9359, 1.9163 and 1.9333 respectively, and thus may be at a key juncture along those timeframes. 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 104.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.