GBPNZD Up 4 Pips in Last Hour, Crosses 50 Day Moving Average; Price Base in Formation Over Past 14 and 30 Days

Hourly Update

(Last Updated July 19, 2021 6:19 GMT)

At the moment, GBPNZD’s rate is up 4 pips (0.02%) 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 entered today at 1.9651, down 89 pips (0.45%) from the previous day. Out of the 39 instruments in the Forex asset class, GBPNZD ended up ranking 38th for the day in terms of price change. The price chart of GBPNZD below illustrates.

GBPNZD

GBPNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPNZD crossed below its 50 day moving average yesterday. 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. Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPNZD; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.