GBP/CHF Down 158 Pips, in a Downtrend Over Past 30 Days; Sentiment Strongly Favors Buyers

GBP/CHF Price Recap

GBP/CHF is down 158 pips (1.31%) since yesterday (with its current price near 1.18596), marking the 6th day in a row a decline has happened. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 18.96% from the day prior, and up 50.86% from the same day the week before. Relative to other instruments in the Forex asset class, GBP/CHF ranked 28th yesterday in terms of percentage price change. Let’s take a look at price chart of GBP/CHF.

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 567.4 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 9 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 4.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price approaching our Weekly Discount Array,place your buy limit orders