GBP/NZD Down 0 Pips On Hourly Chart; Nears 20 and 100 Day Moving Averages

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Hourly Update (Last Updated February 22, 2021 1:51 GMT) At the moment, GBPNZD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPNZD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages…

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