(Last Updated December 20, 2021 1:40 GMT)
At the time of this writing, GBPCHF’s rate is down -17 pips (-0.14%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)
GBPCHF is down 18 pips (0.15%) since the day prior (opening today near 1.222861302), marking the 2nd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 27th the day prior in terms of percentage price change. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
Coming into today GBPCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 17 out of the past 30 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 1 sell signals and 1 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
It has been about fifty days since the pair left the Side area, with which it has been involved for a very long time. Now it has started a new downward trend.what is your opinion?