GBPNZD Down 3 Pips Over Past Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 14 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpnzd.
GBPNZD
(Last Updated March 16, 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 Global Dairy Trade Price Index | 2021 | New Zealand Dollar | NZD | 2021-03-16 | 14:30 GMT | 9.5% | |
| New Zealand Current Account | Q4 2020 | New Zealand Dollar | NZD | 2021-03-16 | 21:45 GMT | NZ$-2.88B | |
| New Zealand GDP Growth Rate YoY | Q4 2020 | New Zealand Dollar | NZD | 2021-03-17 | 21:45 GMT | 0.5% | |
| New Zealand GDP Growth Rate QoQ | Q4 2020 | New Zealand Dollar | NZD | 2021-03-17 | 21:45 GMT | 0.1% | |
| United Kingdom BoE Interest Rate Decision | 2021 | British Pound | GBP | 2021-03-18 | 12:00 GMT | 0.1% |
The Trend
On GBPNZD, there is currently a clear uptrend on the 30 day timeframe.
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.
As for assets in the Forex asset class GBPNZD has been correlated to over the past week, it has demonstrated the strongest correlation with GBPAUD. Over the past 14 days, however, the asset showing the strongest correlation to GBPNZD is NZDUSD. On the flip side, the asset least correlated with GBPNZD over the past week has been AUDJPY, but if we observe the prior two weeks, AUDCHF 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
At the time of this writing, GBPNZD’s rate is up 32 pips (0.17%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPNZD has now gone up 5 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 5 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPNZD. Given that we see an uptrend on the 10 and 5 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
Clearest trend on the monthly is apparent at the 60 month timeframe.
GBPNZD Up 18 Pips in Last Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
GBPNZD Up 1 Pips in Last Hour, Came Into Today Up For the 2nd Consecutive Day; is Inching Close to 20 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 Down 21 Pips On Hourly Chart, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
Volatility for gbpnzd has been contracting over the past two weeks relative to volatility over the past month.
GBPNZD Down 5 Pips On Hourly Chart, Breaks Below 20 Day Average; in an Uptrend Over Past 30 Days
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 2 Pips Over Past Hour, 2 Day Down Streak Broken; Eyes 20 Day Average
Or to simplify this another way, note that out of the past 10 days gbpnzd’s price has gone up 5 them.
GBPNZD Down 0 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Eyes 20 Day Average
The closest is the 20 day average, which is 49.3 pips away.
GBPNZD Down 12 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
GBPNZD Up 5 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Social Sentiment Biased Towards Selling
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
GBPNZD Down 3 Pips On Hourly Chart, 2 Day Up Streak Ended; in an Uptrend Over Past 14 Days
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.