GBP/NZD Up 13 Pips On Hourly Chart; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated December 28, 2021 1:44 GMT)

Currently, GBPNZD’s rate is up 13 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for GBPNZD, which started today off at 1.97228, up 103 pips 0.52% from the previous day. Relative to other instruments in the Forex asset class, GBPNZD ranked 9th the previous day in terms of percentage price change. Below is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Notably, the current price of GBPNZD is sitting close to its 20, 50, 100 and 200 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 146.1 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPNZD; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This pair is still making HH HL. Follow the trade plan with discipline.