(Last Updated January 14, 2021 2:21 GMT)
At the moment, GBPCHF’s rate is up 4 pips (0.04%) from the hour prior. This is the 2nd consecutive hour GBPCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPCHF, which opened today priced near 1.20934, is down 14 pips 0.12% since the previous day, marking a reversal from the day prior — and the end of a 4 day positive run. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 21st in terms of percentage change since the previous day. Below is a 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 1.1983, 1.1988, 1.1924 and 1.1925 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 105.4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.