(Last Updated July 19, 2021 6:19 GMT)
At the moment, GBPCHF’s rate is down -3 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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)
The back and forth price flow continues for GBPCHF, which started today off at 1.26571928, down 34 pips 0.27% from the day prior. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 34th in terms of percentage change since the day prior. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Coming into today 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 50 day average, which is 69.5 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
GBPCHF shows multiple wick rejction on the daily time frame,i may look for sell