(Last Updated July 29, 2021 11:22 GMT)
At the time of this writing, GBPNZD’s rate is down -12 pips (-0.06%) from the hour prior. GBPNZD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPNZD. Given that we see downtrend on the 20, 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 43 pips (0.22%) since the day prior (opening today near 1.99783), marking the 3rd straight day it has gone up. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 7th in terms of percentage change since the day prior. The price chart of GBPNZD below illustrates.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPNZD’s price has gone up 8 them.