GBP/CHF Down 2 Pips On Hourly Chart, Came Into Today Up For the 4th Consecutive Day; is Inching Close to 100 Day Average

Hourly Update

(Last Updated January 7, 2022 1:41 GMT)

Currently, GBPCHF’s rate is down -2 pips (-0.01%) from the hour prior. GBPCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 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 up 43 pips (0.35%) since the previous day (opening today near 1.247756133), marking the 4th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 13th the previous day in terms of percentage price change. 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 averages, located at 1.2302, 1.2338, 1.2489 and 1.2597 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 and 30 day timeframes. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone up 16 them.