GBP/CHF Down 12 Pips On 4 Hour Chart, Makes Big Move Relative to Past Month; 2 Day Down Streak Snapped

GBP/CHF 4 Hour Price Update

Updated July 23, 2020 09:25 AM GMT (05:25 AM EST)

GBP/CHF is down 12 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 1.1813), marking the 3rd candle in a row a decrease has occurred. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 27th in terms of percentage change since the last 4 hour candle.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/CHF entered today at 1.1838421609, up 1 pips (0.01%) from the day prior. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 23rd for the day in terms of price change. Let’s take a look at price chart of GBP/CHF.

GBP/CHF Technical Analysis

Coming into today the current price of GBP/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days GBP/CHF’s price has gone up 8 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 14 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 2.8, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Long on trendline supportwait for confirmation of candle