GBP/CHF Down 0 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Down For the 3rd Day In A Row

Hourly Update

(Last Updated January 14, 2022 1:43 GMT)

At the moment, GBPCHF’s rate is down 0 pips (0%) from the hour prior. GBPCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPCHF. Given that we see downtrend on the 20 and 10 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 is down 43 pips (0.34%) since yesterday (opening today near 1.248892838), marking the 3rd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 32nd for the day in terms of price change. Let’s take a look at price chart of GBPCHF.

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. 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 100 day average, which is 0.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Strong bullish trend with a retracement, and a rejection to go lower. Expecting at least a TP at the previous high