GBP/NZD Up 212 Pips in Last 4 Hours, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart

GBP/NZD 4 Hour Price Update

Updated March 25, 2020 01:40 PM GMT (09:40 AM EST)

The choppiness in the recent four-hour candle price action of GBP/NZD continues; to start the current 4 hour candle, it came in at a price of 2.0358, up 212 pips (1.05%) since the previous 4 hours. Compared to its peers in the Forex, GBP/NZD gave its buyers a return that ranked 3rd in terms of percentage change since the previous 4 hours.

GBP/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for GBP/NZD, which started today off at 2.0216, up 52 pips 0.26% from yesterday. Relative to other instruments in the Forex asset class, GBP/NZD ranked 6th yesterday in terms of percentage price change. Here is a price chart of GBP/NZD.

GBP/NZD Technical Analysis

Coming into today the current price of GBP/NZD 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. Trend traders will want to observe that the strongest trend appears on the 90 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 GBP/NZD’s price has gone down 15 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPNZD, with 7 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price broke out of bullish triangle, waiting for a retest for confirmations for a sell.