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GBPNZD Up 13 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Nears 200 Day Moving Average

GBPNZD

Hourly Update

(Last Updated September 2, 2021 4:20 GMT)

At the moment, GBPNZD’s rate is up 13 pips (0.07%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPNZD has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly 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 End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPNZD is down 25 pips (0.13%) since yesterday (opening today near 1.949), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, GBPNZD ended up ranking 34th for the day in terms of price change. Let’s take a look at price chart of GBPNZD.

GBPNZD Technical Analysis

The first thing we should note is that the current price of GBPNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 84.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBPNZD’s price has gone down 8 them.