(Last Updated November 17, 2020 2:19 GMT)
At the time of this writing, GBPNZD’s rate is down -9 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
GBPNZD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for GBPNZD, which started today off at 1.9105, down 158 pips 0.82% from the day prior. Out of the 40 instruments in the Forex asset class, GBPNZD ended up ranking 39th for the day in terms of price change. Below is a price chart of GBPNZD.
GBPNZD Technical Analysis
Coming into today GBPNZD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 320.2 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. 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.