GBPNZD Down 9 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; Breaks Below 20 and 100 Day Averages
Volatility for gbpnzd has been contracting over the past two weeks relative to volatility over the past month.
GBPNZD
(Last Updated October 23, 2020)
Welcome to the news page for GBPNZD (GBPNZD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for GBPNZD.
GBPNZD Moving Averages
Nuances in the trend on GBPNZD can be understood by observing the behavior of its moving averages. The 20 and 100 day averages are pointing upwards, suggesting a bullish trend, while the 50 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Moreover, it should also be noted that the 200 SMA just turned bearish today.
Below is a chart showing GBPNZD’s price with its moving averages.
As for assets in the Forex asset class GBPNZD has been correlated to over the past week, it has been most correlated with USDTRY. Over the past 14 days, however, NZDCAD is the asset most correlated to GBPNZD. Alternatively, USDZAR has been the asset least correlated with GBPNZD — but over the past two weeks, USDHKD has been the asset least correlated with GBPNZD. See the chart below to observe the recent price action in GBPNZD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
Currently, GBPNZD’s rate is up 0.0038 (0.19%) from the week prior. GBPNZD has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. As for the trend on the weekly timeframe, we see the clearest trend on the 5 week timeframe. Of note is that the 20 week changed directions on GBPNZD; it is now pointing up. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPNZD’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPNZD: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
GBPNZD Up 42 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; Breaks Below 20 and 100 Day Averages
Volatility for gbpnzd has been contracting over the past two weeks relative to volatility over the past month.
GBPNZD Up 16 Pips Over Past Hour, 3 Day Up Streak Ended; Crosses 50 Day Moving Average
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPNZD Down 14 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; Breaks Above 50 Day Average
The closest is the 50 day average, which is 56.4 pips away.
GBPNZD Up 5 Pips Over Past Hour, Moves Up For the 2nd Straight Day; Breaks Above 50 Day Average
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.
GBPNZD Up 58 Pips in Last Hour; Nears 20, 50 and 100 Day Moving Averages
The closest is the 50 day average, which is 37 pips away.
GBPNZD Up 16 Pips in Last Hour, 2 Day Up Streak Ended; Nears 20, 50 and 100 Day Moving Averages
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.
GBPNZD Down 20 Pips Over Past Hour, Moves Up For the 2nd Straight Day; Eyes 20, 50 and 100 Day Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
GBPNZD Up 26 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 100 Day Moving Average
Price action traders may also wish to note that we see a doji candlestick pattern on gbpnzd.
GBPNZD Down 8 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 30 Days
Volatility for gbpnzd has been contracting over the past two weeks relative to volatility over the past month.