(Last Updated November 26, 2020)
Hello! This is the news page for GBPNZD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for GBPNZD.
GBPNZD’s moving averages suggest the trend on a number of time horizons is bearish.
Below is a chart showing GBPNZD’s price with its moving averages.
In terms of correlations over the past week for GBPNZD, it has demonstrated the strongest correlation with USDSEK. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPNZD is AUDNZD. Alternatively, the asset least correlated with GBPNZD over the past week has been NZDCAD, but over the past two weeks, USDJPY has been the asset least correlated with GBPNZD. The chart below illustrates GBPNZD against its least correlated assets.
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At the time of this writing, GBPNZD’s rate is down -0.007 (-0.37%) from the week prior. GBPNZD has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Of note is that the 20 week changed directions on GBPNZD; it is now pointing down. 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.
Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign.
It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
Or to simplify this another way, note that out of the past 30 days gbpnzd’s price has gone up 17 them.
Relative to other instruments in the forex asset class, gbpnzd ranked 17th yesterday in terms of percentage price change.
It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign.
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.
The closest is the 100 day average, which is 30 pips away.