(Last Updated June 15, 2022 1:43 GMT)
Currently, GBPCHF’s rate is down -12 pips (-0.1%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is down 78 pips (0.65%) since the previous day (opening today near 1.202651275), marking the 4th straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 35th for the day in terms of price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Coming into today the current price of GBPCHF 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 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 15 out of the past 30 days.