Am I right in saying that the absolute value symbols act like a function such that if $x$, for example, is $x<0$ then $x=-x$
In other words $x$ will be positive regardless of what value you give to $x$, right?
In which case, isn't $|z|$ always positive? Considering $|z|=\sqrt{a^2+b^2}$, where $z=a+bi$.
Yes, the absolute value of a number is always non-negative (Zero if the input is zero, positive otherwise).
This is the point of the absolute value function; it is in some sense a measure of the size of the number. To be more precise, the absolute value of a number is the distance from the number to the origin.