GBPCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 50 and 200 Day Averages

Hourly Update

(Last Updated October 12, 2021 0:20 GMT)

Currently, GBPCHF’s rate is down -5 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

The back and forth price flow continues for GBPCHF, which started today off at 1.261653106, down 27 pips 0.22% from yesterday. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 30th in terms of percentage change since yesterday. Below is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below its 50 and 200 day moving averages yesterday. 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 200 day average, which is 12.5 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.