GBPCHF Up 10 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated September 8, 2021 12:19 GMT)

At the time of this writing, GBPCHF’s rate is up 10 pips (0.08%) from the hour prior. This is the 3rd hour in a row GBPCHF has seen its price head up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 entered today at 1.2672364404, up 9 pips (0.07%) from yesterday. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 22nd in terms of percentage change since yesterday. Below is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that GBPCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 9.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone up 16 them. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!