GBP/NZD Down 15 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

GBP/NZD 4 Hour Price Update

Updated June 26, 2020 01:10 PM GMT (09:10 AM EST)

GBP/NZD is down 15 pips (0.08%) since the previous 4 hours (opening the current 4 hour candle near 1.9256), marking the 3rd candle in a row a decrease has occurred. Compared to its peers in the Forex, GBP/NZD gave its buyers a return that ranked 23rd in terms of percentage change since the previous 4 hours.

GBP/NZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of GBP/NZD continues; to start today, it came in at a price of 1.93163, up 3 pips (0.02%) since yesterday. Relative to other instruments in the Forex asset class, GBP/NZD ranked 25th yesterday in terms of percentage price change. Below is a price chart of GBP/NZD.

GBP/NZD Technical Analysis

Notably, GBP/NZD is now close to its 20 day averages, located at 1.9403 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 87.2 pips away. Volatility for GBP/NZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBP/NZD’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPNZD, with 10 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.77, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.