(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:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| 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 |
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’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.
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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.
Strongest trend on the 60 month timeframe.
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpnzd.
Or to simplify this another way, note that out of the past 10 days gbpnzd’s price has gone up 5 them.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
This imputes a buy/sell ratio of 0, which is quite bearish.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
This imputes a buy/sell ratio of 1, which is neutral.
This imputes a buy/sell ratio of 1, which is neutral.
With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration.