GBP / NZD is a slightly minor currency pair. It behaves similarly to GBP / AUD, but tends to be slightly less volatile due to the New Zealand dollar rather than the AUD. Therefore, it is not very suitable for scalping and day trading, but rather for swing trading. Since the pound is involved, the price range moves a lot.
Difficulty
Recommended for intermediate to advanced Forex. Extreme price movements are likely to occur, so it is possible that all funds will disappear with one shot. Suitable for all trading methods such as swing trading, scalping and day trading. Forex beginners are advised to first learn the habit of pound sterling movements.
Recommended trading time
The New Zealand dollar moves in Asian time and the pound moves in European time, so there is a 24-hour price movement. Trading is always recommended.
Recommended trading style
Suitable for scalping, day trading and trend following, but especially for trend following. If you fit in, you can get a profit margin as much as you want, so it is highly recommended. However, when I go the other way around, I am completely defeated.
Economic indicators to watch out for
The UK economic indicators are influential and are at a level that greatly moves the market, so let’s take a closer look. The pound is very sensitive, especially in the UK, especially around the policy interest rate, GDP, unemployment rate, so be careful as it will move the pound significantly, the movement is also extremely troublesome because it fluctuates extremely unlike the euro and the dollar. is.
New Zealand’s indicators are unlikely to move that much. Policy interest rates, GDP, unemployment rate and so on.
When the pound moves
The pound is sensitive to British politics and interest rate policies. It may be the first step to know the nature of the extreme price movements of the pound rather than economic indicators and politics. That is the biggest point to win in this currency pair.
When the New Zealand dollar moves
In the case of the New Zealand dollar, it is necessary to check the Australian economic indicators at the same time as the domestic economic indicators. Being a neighboring country and having many points of contact, it is greatly influenced by the situation in Australia. And because Australia depends on China’s economy and politics, so does New Zealand.
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