GBPNZD Down 16 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated February 16, 2021 23:21 GMT)

At the time of this writing, GBPNZD’s rate is down -16 pips (-0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

GBPNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPNZD is up 45 pips (0.23%) since the day prior (opening today near 1.9229), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 14th in terms of percentage change since the day prior. The price chart of GBPNZD below illustrates.

GBPNZD

GBPNZD Technical Analysis

The first thing we should note is that GBPNZD is now close to its 20, 50, 100 and 200 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 100 day average, which is 50.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 7 out of the past 14 days.