GBP/CHF Down 0 Pips in Last Hour, Makes Big Move Relative to Past Month; is Inching Close to 20 Day Average

Hourly Update

(Last Updated August 4, 2022 1:43 GMT)

Currently, GBPCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 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.

GBPCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.166095025, up 28 pips (0.24%) since the day prior. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 16th for the day in terms of price change. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone down 6 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.