GBP/CHF Down 2 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Nears 20, 50 and 100 Day Moving Averages

Hourly Update

(Last Updated September 8, 2021 1:49 GMT)

At the time of this writing, GBPCHF’s rate is down -2 pips (-0.02%) from the hour prior. This is the 2nd straight hour GBPCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)

The choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.2672364404, up 9 pips (0.07%) since yesterday. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 22nd in terms of percentage change since yesterday. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 100 day average, which is 9.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 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 30 days GBPCHF’s price has gone up 16 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.