(Last Updated April 22, 2022 1:46 GMT)
At the moment, GBPNZD’s rate is up 31 pips (0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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)
GBPNZD entered today at 1.93429, up 78 pips (0.41%) from the day prior. Relative to other instruments in the Forex asset class, GBPNZD ranked 14th the day prior in terms of percentage price change. Here is a price chart of GBPNZD.
GBPNZD Technical Analysis
The first thing we should note is that the current price of GBPNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 55 pips away. The clearest trend exists on the 14 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. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone up 6 them.