(Last Updated September 17, 2021 1:21 GMT)
At the moment, GBPNZD’s rate is up 10 pips (0.05%) from the hour prior. GBPNZD has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)
The back and forth price flow continues for GBPNZD, which started today off at 1.9419, down 41 pips 0.21% from yesterday. Compared to its peers in the Forex, GBPNZD gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Below is a price chart of GBPNZD.
GBPNZD Technical Analysis
First things first: GBPNZD crossed below its 200 day moving average yesterday. 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 200 day average, which is 6.9 pips away. Volatility for GBPNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 6 out of the past 10 days.