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.
(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.
Or to simplify this another way, note that out of the past 10 days gbpnzd’s price has gone up 5 them.
The closest is the 20 day average, which is 49.3 pips away.
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.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
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.
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpnzd.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
The closest is the 20 day average, which is 358.5 pips away.
For additional context, note that price has gone up 18 out of the past 30 days.
The closest is the 200 day average, which is 333.9 pips away.