(Last Updated January 8, 2021 3:21 GMT)
Currently, GBPNZD’s rate is down -3 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20, 50, 100 and 200 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)
After 3 down days, GBPNZD snaps its streak, rising 39 pips (0.21%) over the past day to close at an exchange rate of 1.8678. Out of the 40 instruments in the Forex asset class, GBPNZD ended up ranking 19th for the day in terms of price change. Here is a price chart of GBPNZD.
GBPNZD Technical Analysis
Notably, GBPNZD is now close to its 20 and 50 day averages, located at 1.8886 and 1.9076 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 15 out of the past 30 days.