GBP/NZD Up 29 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Consecutive Day

Hourly Update

(Last Updated June 23, 2022 1:42 GMT)

At the moment, GBPNZD’s rate is up 29 pips (0.15%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 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 is up 134 pips (0.69%) since the previous day (opening today near 1.9521), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, GBPNZD ended up ranking 6th for the day in terms of price change. Let’s take a look at price chart of GBPNZD.

GBPNZD

GBPNZD Technical Analysis

Notably, GBPNZD crossed above its 100 and 200 day moving averages yesterday. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPNZD, with 3 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This is an educational + analytic content that will teach why and how to enter a tradeMake sure you watch the price action closely in each analysis as this is a very important part of our methodDisclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions