GBP/CHF Down 114 Pips; in a Downtrend Over Past 14 Days

GBP/CHF Price Recap

GBP/CHF is down 114 pips (0.94%) since yesterday (with its current price near 1.20172), marking the 5th day in a row it has gone down. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 17.78% from the day prior, but up 30.91% from the same day the week before. Relative to other instruments in the Forex asset class, GBP/CHF ranked 32nd yesterday in terms of percentage price change. The price chart of GBP/CHF below illustrates.

GBP/CHF Technical Analysis

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 20 day average, which is 455.3 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBP/CHF’s price has gone down 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 8 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.