(Last Updated November 19, 2020 2:19 GMT)
At the time of this writing, GBPCHF’s rate is down -9 pips (-0.07%) from the hour prior. This is the 3rd consecutive hour GBPCHF has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. 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 is up 22 pips (0.18%) since the day prior (opening today near 1.20878), marking the 2nd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, GBPCHF ended up ranking 8th for the day in terms of price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, 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 200 day average, which is 139.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days.