GBP/NZD Up 23 Pips On Hourly Chart, 2 Day Down Streak Snapped; Breaks Above 20 and 50 Day Averages

Hourly Update

(Last Updated June 22, 2022 1:44 GMT)

At the time of this writing, GBPNZD’s rate is up 23 pips (0.12%) from the hour prior. GBPNZD has seen its price go up 9 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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)

The choppiness in the recent daily price action of GBPNZD continues; to start today, it came in at a price of 1.9387, up 53 pips (0.27%) since the day prior. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 12th in terms of percentage change since the day prior. Here is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

First things first: GBPNZD crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBPNZD’s price has gone up 15 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPNZD; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBP/NZD Long position.Target is TP1.have to wait and see.