(Last Updated July 19, 2021 3:28 GMT)
Currently, GBPCHF’s rate is up 3 pips (0.02%) from the hour prior. GBPCHF has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 back and forth price flow continues for GBPCHF, which started today off at 1.26571928, down 34 pips 0.27% from yesterday. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 34th 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 GBPCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.2737, 1.2727, 1.2767 and 1.2422 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 69.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone down 8 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
GBPCHF shows multiple wick rejction on the daily time frame,i may look for sell