Trading GBP/NZD

Providing a range of opportunities, the GBP/NZD is a popular currency pair for its high volatility and profit potential. It also offers traders a good alternative from the major pairs like EUR, GBP, AUD and NZD against the USD.

This article will discuss the history and outlook of the GBP/NZD’s relative economies, show live price charts and currency graphs and provide a commentary of important indicators and economic ideas that can help form predictions of the GBP/NZD exchange rate.

GBP/NZD Trading Brokers

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    Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    0.4 0.1 0.4
    Total Assets FCA Regulated Platforms
    100+ Yes MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower
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    XTB offers access to over 70 currency pairs, with competitive spreads averaging about 1 pip for major pairs. Its xStation platform is user-friendly, providing traders with top-tier charting tools, over 30 indicators, and diverse order types to support different strategies and risk management needs.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    1.4 1.0 1.4
    Total Assets FCA Regulated Platforms
    70+ Yes xStation
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    FXCC champions its competitive forex trading environment. ECN spreads can drop to an impressive 0.0 pips during busy trading periods. Offering more variety than many competitors, it supports over 70 currency pairs. Furthermore, traders benefit from MT4, renowned for its exceptional charting capabilities, specifically designed for forex trading.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    1.0 0.2 0.5
    Total Assets FCA Regulated Platforms
    70+ No MT4, MT5
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    Vantage provides over 55 currency pairs, exceeding the industry norm, giving traders ample opportunities. With a robust liquidity pool, forex spreads start at 0.0 pips on the ECN account, often beating other options. Additionally, there are no commissions, deposit fees, or hidden charges.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    0.5 0.0 0.5
    Total Assets FCA Regulated Platforms
    55+ Yes ProTrader, MT4, MT5, TradingView, DupliTrade
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    IC Markets remains dedicated to offering tight 0.0-pip spreads on major currency pairs like EUR/USD, ensuring outstanding execution with an average speed of 35 milliseconds. Ideal for traders seeking high performance, those dealing in large volumes can also enjoy rebates of up to $2.50 per forex lot.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    0.23 0.02 0.27
    Total Assets FCA Regulated Platforms
    75 No MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
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    FxPro provides over 70 currency pairs, though minors are excluded, and is renowned for its rapid execution and tight spreads, averaging 0.45 pips on EUR/USD. Traders can design, evaluate, and implement short-term strategies using the top-tier MT4 platform with expert advisors for algorithmic trading.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    0.6 0.45 0.73
    Total Assets FCA Regulated Platforms
    70+ Yes FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower
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    IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.

    GBPUSD Spread EURUSD Spread GBPEUR Spread
    0.9 0.8 0.9
    Total Assets FCA Regulated Platforms
    80+ Yes Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime

Safety Comparison

Compare how safe the Trading GBP/NZD are and what features they offer to protect traders.

Safety Comparison
Broker Trust Rating FCA Regulated Negative Balance Protection Guaranteed Stop Loss Segregated Accounts
Pepperstone 4.6
XTB 4.6
FXCC 3.3
Vantage FX 4.6
IC Markets 4.6
FXPro 4.4
IG Index 4.9

Payments Comparison

Compare which popular payment methods the Trading GBP/NZD support and whether they have trading accounts denominated in British Pounds (GBP).

Payments Comparison
Broker GBP Account Debit Card Credit Card Neteller Skrill Apple Pay
Pepperstone
XTB
FXCC
Vantage FX
IC Markets
FXPro
IG Index

Mobile Trading Comparison

How good are the Trading GBP/NZD at mobile trading using apps or other mobile interfaces.

Mobile Trading Comparison
Broker Mobile Apps iOS Rating Android Rating Smart Watch App
Pepperstone iOS & Android 4.4 4.1
XTB iOS & Android 4.7 4.1
FXCC iOS & Android 4.8 4.4
Vantage FX iOS & Android 3.6 3.9
IC Markets iOS & Android 3.1 4.2
FXPro iOS & Android 4.7 4.3
IG Index iOS & Android 4.6 4

Beginners Comparison

Are the Trading GBP/NZD good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?

Beginners Comparison
Broker Demo Account Minimum Deposit Minimum Trade Support Rating Education Rating
Pepperstone $0 0.01 Lots 4.6 4
XTB $0 0.01 Lots 4.3 3.8
FXCC $0 0.01 Lots 4.3 2.5
Vantage FX $50 0.01 Lots 4.4 4
IC Markets $200 0.01 Lots 4.5 3.5
FXPro $100 0.01 Lots 4 4
IG Index $0 0.01 Lots 4.5 5

Advanced Trading Comparison

Do the Trading GBP/NZD offer features that allow for more advanced trading strategies?

Advanced Trading Comparison
Broker Automated Trading Pro Account Leverage VPS AI Low Latency Extended Hours
Pepperstone Expert Advisors (EAs) on MetaTrader 1:30 (Retail), 1:500 (Pro)
XTB Open API 1:30
FXCC Expert Advisors (EAs) on MetaTrader 1:500
Vantage FX Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader 1:30
IC Markets Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FXPro Expert Advisors (EAs) on MetaTrader, cBots on cTrader 1:30 (Retail), 1:500 (Pro)
IG Index Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime 1:30 (Retail), 1:222 (Pro)

Detailed Rating Comparison

Use this heatmap to compare our detailed ratings for all of the Trading GBP/NZD.

Detailed Rating Comparison
Broker Trust Platforms Mobile Assets Fees Accounts Support Research Education
Pepperstone 4.6 4.4 4.3 3.8 4.5 4 4.6 4.3 4
XTB 4.6 4 4.4 4 4.3 4 4.3 4.1 3.8
FXCC 3.3 3.3 4.6 3 4 3.5 4.3 2 2.5
Vantage FX 4.6 4.3 3.8 4.5 4.4 4.5 4.4 4 4
IC Markets 4.6 4 3.7 3.5 4.6 4 4.5 4 3.5
FXPro 4.4 4.3 4.5 4 4 3.8 4 4 4
IG Index 4.9 4.9 4.3 4.5 3.5 4 4.5 4.9 5

Our Take On Pepperstone

"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Tobias Robinson
Tobias Robinson
Reviewer

Pros

  • Pepperstone presents itself as an economical choice for traders, offering spreads as low as 0.0 in its Razor account. The Active Trader programme provides rebates up to 30% on indices and commodities, plus $3 per lot on forex.
  • Pepperstone offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders.
  • Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading.

Cons

  • Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.
  • Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
  • Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.

Our Take On XTB

"XTB emerges as an ideal option for novice traders, offering the impressive xStation platform, zero commission pricing, no required minimum deposit, and outstanding educational resources, many of which are conveniently integrated into the platform."

Pros

  • Top-notch customer support, available 24/5, includes a welcoming live chat with response times under two minutes during tests.
  • XTB ensures swift access to funds, providing fast withdrawals with same-day payments for requests made before 1 pm.
  • XTB offers a superb array of educational resources, such as training videos and articles, embedded within the platform to assist traders of all experience levels.

Cons

  • XTB has stopped supporting MT4, restricting traders to its own platform, xStation. This decision may discourage experienced traders accustomed to using the MetaTrader suite.
  • XTB lacks a raw spread account, a feature increasingly offered by competitors such as Pepperstone. This omission might not satisfy traders seeking the most competitive spreads.
  • The demo account lasts only four weeks, posing a challenge for traders wanting to fully explore the xStation platform and refine short-term strategies before investing actual money.

Our Take On FXCC

"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."

Pros

  • The complimentary education section, featuring the 'Traders Corner' blog, provides a wide array of resources suitable for traders of all experience levels.
  • There are no deposit fees other than standard cryptocurrency mining charges, which benefits active traders.
  • FXCC has introduced MT5, which in our evaluations, mirrored the trading conditions of MT4 by offering swift execution, improved charting, and market depth tools.

Cons

  • The variety of currency pairs surpasses most options, but the choice of other assets is limited. Notably, stocks are absent.
  • Unaware traders might face steep withdrawal fees, such as a notable $45 for bank transfers.
  • The range of research tools, such as Trading Central and Autochartist, is quite limited. Leading platforms in this category, like IG, offer more advanced features.

Our Take On Vantage FX

"Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast."

Pros

  • Vantage upholds a high trust score through its solid reputation, backed by premier regulation from the FCA and ASIC.
  • ECN accounts offer competitive terms, featuring spreads starting at 0.0 pips and a commission of $1.50 per trade side.
  • With a minimal deposit requirement of just $50 and no funding fees, this broker stands out as an excellent option for novice traders.

Cons

  • It's unfortunate that some clients must register with the offshore firm, which provides reduced regulatory safeguards.
  • Regrettably, cryptocurrencies are accessible solely to clients in Australia.
  • Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.

Our Take On IC Markets

"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."

Pros

  • As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
  • In 2025, IC Markets earned DayTrading.com's accolade for 'Best MT4/MT5 Broker' due to its top-tier MetaTrader integration. This achievement highlights the broker's continuous refinement over the years to enhance the platform experience.
  • IC Markets provides reliable 24/5 support, especially for account and funding queries, drawing from direct experience.

Cons

  • Certain withdrawal methods incur fees, including a $20 charge for wire transfers. These costs can reduce profits, particularly with frequent withdrawals.
  • The tutorials, webinars, and educational resources require enhancement, lagging behind competitors such as CMC Markets, which diminishes their appeal to novice traders.
  • IC Markets provides metals and cryptocurrencies for trading through CFDs, though the selection is narrower compared to brokers such as eToro. This limits opportunities for traders focused on these asset classes.

Our Take On FXPro

"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."

Pros

  • FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
  • FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.
  • FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.

Cons

  • FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
  • FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
  • There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.

Our Take On IG Index

"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."

Pros

  • As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
  • The IG app provides an excellent mobile trading experience with an intuitive design, earning it the Runner Up position in our 'Best Trading App' award.
  • IG provides a wide range of professional and engaging educational materials, such as webinars, articles, and analyses, tailored for traders.

Cons

  • Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.
  • IG has ended its swap-free account, diminishing its attractiveness to Islamic traders.
  • Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.

GBP/NZD Chart

The British Pound Sterling

The GBP, or British pound, is the official currency of the United Kingdom, the South Sandwich Islands, the British Antarctic Territory, the British Overseas Territories of South Georgia and the UK crown dependencies the Channel Islands and the Isle of Man.

As the oldest currency in the world, the history of the GBP stretches back to 760. It was then set as the official UK currency in 1707 when England and Scotland united. The UK dabbled with the gold standard at various times in the 20th century, before abandoning it for the last time in the great depression. The GBP has been a free-floating currency since 1971.

The pound is the fourth most traded currency in the world, after the USD, EUR and JPY, accounting for 13% of the global daily trading volumes. This volume makes it attractive when trading forex pairs such as the GBP/NZD.

The UK economy is the fifth-largest in the world by nominal GDP, hitting USD$2.64 trillion in 2020. The economy’s largest sector is services, particularly financial services, with the sector contributing 80% of the GDP. The interest rates and monetary policies for the GBP are set and managed by the Bank of England (BoE). The UK is one of the biggest exporters and importers in the world, with the USA, Germany and France sitting as its top trading partners.

The New Zealand Economy

The New Zealand Dollar (NZD) is the official currency of New Zealand, the Ross Dependency, Niue, the Cook Islands, the Pitcairn Islands and Tokelau.

The NZD, often called the ‘kiwi’, came into being in 1967, when New Zealand decimalised the former New Zealand pound and pegged its new currency to the US dollar. In 1985, the NZD became a free-floating currency.

The NZD is the tenth most traded currency by daily volume, on average accounting for 2.1% of daily trade volumes. The GBP/NZD is one of the most traded forex pairs including the New Zealand dollar.

The New Zealand economy is a much smaller economy than that of the UK, reeling in a GDP of US$0.196 billion in 2020. The economy is comprised of a services sector accounting for 65.2% of GDP, an industry sector of 20.4% and agriculture of 5.8%. Interest rates and policy decisions are set by the Reserve Bank of New Zealand (RBNZ). New Zealand’s main trading partners are China, Australia and the USA.

GBP/NZD Economic Influences

A deep well of information that can help inform trading strategies and the prediction of price fluctuations exists in the form of economic news. Many reports, statistics and figures that influence GBP/NZD rates are released regularly by official bodies. These reports often follow specific indicators and economic concepts.

Economic Growth

The health and performance of an economy are going to influence the performance of that economy’s currency. Generally, the difference in economic output between the two currencies in a pair is what drives movements in exchange rates. For example, if the UK economy vastly outperforms New Zealand’s, then the GBP will likely strengthen against the NZD.

The health and growth of an economy can be indicated by its GDP relative to previous reports and years. The UK’s Office for National Statistics (ONS) releases GDP estimates every month and every quarter, with the latter reports containing more data and more sophisticated calculation approaches. New Zealand GDP data and charts are released every quarter by Stats NZ Tatauranga Aotearoa. Keeping an eye on these will help you trade the GBP/NZD.

Inflation

Inflation is a concept that changes the strength of a currency within an economy, with a positive inflation rate meaning a currency can buy less-valuable goods for the same quantity. This influences international exchange rates as the price of goods between countries should remain the same. Therefore, if one economy’s inflation rate is higher than another, then its currency weakening would offset the change in trade prices.

Consumer price indices (CPIs) are a widely used tool to measure the inflation of a currency by comparing the price changes of a basket of common goods. GBP/NZD traders often use a version of a CPI called a core CPI, which excludes more volatile goods like food and energy.

The ONS releases CPI bulletins around the middle of each month. These include price indices, percentage changes and weightings for different inflation measures. Stats NZ releases CPI indicator reports each quarter that show percentage changes and information with helpful summary charts.

Balance Of Payments

The balance of payments is a useful economic tool that measures the amount of capital and goods that enter and leave an economy. While it consists of three accounts, the current account is most used by the forex community as it balances trade payments and incomes between one economy and all the others.

The current account can either be in surplus, which means exports outperform imports, or deficit, which is the opposite. A current account surplus tends to bode well for the strength of an economy’s currency.

Both the ONS and Stats NZ release balance of payments reports every quarter, though Stats NZ also produces a year-end report. Again, these are an important resource when investing in the GBP/NZD.

Consumer Confidence

Consumer sentiment for the future of an economy is measured regularly using surveys. UK and New Zealand sentiment reports are produced by many sources, usually banks or financial agencies.

GBP/NZD analysts will often predict the outcomes of these surveys, providing a basis for price movements. If the reports indicate a more positive sentiment than generally predicted, the strength of that currency will often improve.

Monetary Policies

Monetary policies are implemented by the controlling bank of a currency to improve the performance of an economy. These can indirectly impact GBP/NZD exchange rates.

If two economies have a significant difference in their monetary policies, there is more room for speculation on the relative performance of the two currencies and more volatility may result. Monetary policies are enacted by the BoE for the UK and the RBNZ for New Zealand.

The BoE meets eight times a year to discuss and set monetary policy, releasing a decision at 12:00 GMT on Thursday that week. The RBNZ releases a monetary policy statement each quarter that sets out the policy’s approach and reasoning.

GBP/NZD Correlated Instruments

As there are many interconnected markets and the exchange rates for forex pairs rely on a huge number of factors, there are several markets that correlate quite strongly with the GBP/NZD.

The GBP/AUD and GBP/JPY currency pairs share many of the longer-term trends shown by GBP/NZD, excluding those generated by big economic or political news. Japan and Australia are two of the top trading partners of New Zealand, therefore fluctuations in these currencies can influence those in GBPNZD and vice versa. Live price candlestick charts demonstrate these correlations.

Another reason for correlation in instruments is the heavy reliance on agricultural and commodity exports from New Zealand. This links the price of commodities such as gold to the performance of the New Zealand economy, and therefore the strength of its currency. This positive correlation between gold and the NZD spot rate produces a negative correlation between gold and the GBP/NZD pair, as NZD is the quote currency. Further cause for this correlation is that the AUD is strongly linked to gold and, as before, Australia is one of the top trading partners of New Zealand.

When To Trade GBP/NZD

While forex markets provide the ability to trade currency pairs 24 hours a day and can be attractive for just this reason, it is not always a good idea to trade at any time of day. Trading during times of high liquidity will reduce the spreads (costs) related to your trades, and will often see higher volatility, and therefore potential profits.

The most liquid time for most trades, especially those involving the GBP, is during the London session (07:00 GMT to 16:00 GMT). While the NZD sees some liquidity in the Asian session, the GBP/NZD pair sees much more liquidity in the London session, which is also when UK economic news is released.

How To Trade GBP/NZD

Trading any instrument can be done in an infinite number of ways, with strategies relying on financial news, instinct, geometric relationships or complex combinations of other instruments. Some forex strategies may use 5, 10 or even 20-year GBP/NZD charts, while others may rely on spot rate swings lasting less than a minute. While this is true, some instruments lend themselves better to some methods than others.

Below are two possible trading strategies that use characteristics often exhibited by GBPNZD, though there is no guarantee of success with these methods. Traders should always ensure they fully understand the underlying concepts of a method and the risks involved in any trade.

Swing Trading

There are often clear fluctuations with easily-determined support and resistance levels in GBP/NZD price charts. This manifests as fluctuations between two lines, known as range support and range resistance levels. Traders can identify why such a trend is happening and then use the next support or resistance as an entry point, capitalising on the swing towards the opposite level.

These NZD GBP fluctuations don’t last forever, though, and traders should be careful of breakouts. Breakouts occur when the price is dropping below a support or rises above a resistance level, which can indicate the formation of new levels. Stop orders are useful for this strategy to prevent breakouts and false breakouts cancelling profits.

Carry Trading

Carry trading involves using differences in interest rates to your advantage. It involves borrowing a low interest rate currency to buy a high interest rate one, producing profits from the differential. The NZD is very popular for this method as it is one of the highest-yielding industrialised currencies. Leverage is an important tool to ensure meaningful profits in carry trading. For GBPNZD, this would involve buying NZD with GBP or selling GBP for NZD.

GBP/NZD Brokers

Top forex brokers offer a range of live and historical graphs across 10 years of charts for data investing and daily analysis. All of which can help paint a view of pip values so you can make buy or sell decisions.

Many providers also offer live investing forums where you can exchange ideas with other traders and find the best exchange rate prices. Additionally, look for the brokers offering the best suite of indicators, such as pivot points, on their platforms.

Final Word On Trading GBP/NZD

The GBP/NZD is a strong minor pair that offers traders good levels of volatility from two relatively large and stable economic powers. There are many ways to forecast and bet on the pair in 2025, some not even directly involving the pair, though extra consideration should be given to major economic news and reports.

Find out more about forex trading.

FAQ

What Is Today’s Conversion Rate For The GBP/NZD?

Today’s live exchange rate for GBP to NZD can be seen on a real-time chart. This will show what 1 GBP is worth in NZD. See the live chart in our article for details.

How Do I Read GBP/NZD?

Every currency pair is written in a specific format, and the order of the currencies indicates the direction of the trade. In this case, GBP is the base currency and NZD is the quote currency. If a value of 1.92 is given for GBP/NZD, it means 1 GBP is 1.92 in NZD.

How Can I Forecast the GBP/NZD FX Exchange Rate Today?

Predictions for GBP/NZD exchange rates are difficult and can be statistically complex. However, many strategies help break down the complexity of the issues, such as the those mentioned in our article. Also, you can draw your own conclusions from online investing signals, the release of key economic reports from each economy and the latest news.

When Should I Trade GBP/NZD?

FX markets are open all day every day, though there are certain times when trading will incur the lowest costs. When the markets are very liquid, spreads are lower and trading is cheaper. For GBP/NZD, the best time to trade is during the London trading session or shortly after big economic news releases.

Which Currency Is Stronger In GBP Vs NZD?

Looking at historical data, graphs and technical analysis, GBP is stronger than NZD and always has been. However, over time, the NZD has been getting stronger compared to the GBP (GBP/NZD going down) since its conception in 1967, though less so over the last ten years.