(Last Updated June 16, 2022 1:42 GMT)
At the time of this writing, GBPCHF’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on GBPCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
GBPCHF, which opened today priced near 1.209690467, is up 70 pips 0.59% since the previous day, marking a reversal from the day prior — and the end of a 4 day negative run. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on GBPCHF, with 5 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 5, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
GBPCHF,- possible median line scenario. It is possible to open a long pos once the price tests lower median line and hold it up to the upper median line.