GBPNZD

(Last Updated April 15, 2021)

Hello! This is the news page for GBPNZD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for GBPNZD

metric_name	reference_period	asset_name	asset_id	date	time
United Kingdom BoE Credit Conditions Survey	NA	British Pound	GBP	2021-04-15	08:30 GMT
New Zealand Business NZ PMI	Mar 2021	New Zealand Dollar	NZD	2021-04-15	22:30 GMT
United Kingdom BoE Cunliffe Speech	NA	British Pound	GBP	2021-04-16	09:00 GMT

The Trend

As for trends on GBPNZD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

GBPNZD Moving Averages

GBPNZD’s moving averages suggest the trend on a number of time horizons is bullish.

Below is a chart showing GBPNZD’s price with its moving averages.

Regarding GBPNZD’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPAUD. GBPAUD is the asset with which GBPNZD has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. Alternatively, the asset least correlated with GBPNZD over the past week has been USDTRY, but if we observe the prior 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.

The View From the Weekly Timeframe

At the time of this writing, GBPNZD’s rate is down -185 pips (-0.95%) from the week prior. Moreover, note that the weekly chart shows that GBPNZD has seen 3 straight down weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows GBPNZD’s price action over the past year.