GBPCHF Up 9 Pips On Hourly Chart; Crosses 20 and 100 Day Moving Averages

Hourly Update

(Last Updated September 30, 2021 2:19 GMT)

Currently, GBPCHF’s rate is up 9 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

GBPCHF entered today at 1.2644170112, down 45 pips (0.36%) from the day prior. Relative to other instruments in the Forex asset class, GBPCHF ranked 31st the day prior in terms of percentage price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

First things first: GBPCHF crossed below its 20 and 100 day moving averages yesterday. 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 0.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.