GBP/NZD Up 29 Pips On Hourly Chart, 2 Day Up Streak Snapped; Breaks Below 100 Day Average

Hourly Update

(Last Updated September 22, 2022 1:41 GMT)

Currently, GBPNZD’s rate is up 29 pips (0.15%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 back and forth price flow continues for GBPNZD, which started today off at 1.9257, down 44 pips 0.23% from the previous day. Relative to other instruments in the Forex asset class, GBPNZD ranked 19th the previous day in terms of percentage price change. Here is a price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPNZD crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone up 6 them.