GBPNZD

(Last Updated February 24, 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 forecast outcome
New Zealand Interest Rate Decision 2021 New Zealand Dollar NZD 2021-02-24 01:00 GMT 0.25% 0.25%
New Zealand RBNZ Press Conference NA New Zealand Dollar NZD 2021-02-24 02:00 GMT
United Kingdom BoE Monetary Policy Report Hearings NA British Pound GBP 2021-02-24 14:30 GMT
United Kingdom BoE Gov Bailey Testimony NA British Pound GBP 2021-02-24 14:30 GMT
New Zealand Balance of Trade Jan 2021 New Zealand Dollar NZD 2021-02-25 21:45 GMT

The Trend

As for trends on GBPNZD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

GBPNZD Moving Averages

The moving averages on GBPNZD summarize its price action in an interesting way. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.

The chart below illustrates.

In terms of correlations over the past week for GBPNZD, it has been most correlated with GBPAUD. Over the past 14 days, however, TRYJPY is the asset most correlated to GBPNZD. On the flip side, the asset least correlated with GBPNZD over the past week has been GBPJPY, but over the past two weeks, the asset least correlated with GBPNZD has been NZDCHF. The chart below illustrates GBPNZD against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, GBPNZD’s rate is up 33 pips (0.17%) 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. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. 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. GBPNZD’s weekly price action over the past 52 weeks can be seen via the chart below.

GBPNZD: The Monthly View

Monthly outlook: choppy. Clear trends not visible on the 24, 60 and 120 month timeframes.

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