GBP/CHF Down 14 Pips On 4 Hour Chart, Makes Big Move Relative to Past Month; Eyes 50 and 100 Day Averages

GBP/CHF 4 Hour Price Update

Updated July 31, 2020 05:08 AM GMT (01:08 AM EST)

The back and forth price flow continues for GBP/CHF, which started the current 4 hour candle off at 1.1902, down 14 pips 0.12% from the last 4 hour candle. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 25th 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 is up 14 pips (0.11%) since the previous day (opening today near 1.1915680553), marking the 2nd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 13th for the day in terms of price change. The price chart of GBP/CHF below illustrates.

GBP/CHF

GBP/CHF Technical Analysis

Coming into today GBP/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days GBP/CHF’s price has gone up 5 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

If price breaks the supply zone, open a buy but if it rejects it, a sell will be a great choice. low risk high reward.