GBPNZD Up 21 Pips Over Past Hour, Moves Down For the 4th Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2021 5:20 GMT)

At the moment, GBPNZD’s rate is up 21 pips (0.11%) from the hour prior. GBPNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 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 down 44 pips (0.23%) since the previous day (opening today near 1.8908), marking the 4th day in a row it has gone down. Relative to other instruments in the Forex asset class, GBPNZD ranked 27th the previous day in terms of percentage price change. Below is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Notably, GBPNZD is now close to its 20 and 50 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 310.5 pips away. Volatility for GBPNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 11 out of the past 14 days.