GBP/CHF Down 2 Pips On Hourly Chart, Makes Big Move Relative to Past Three Months; Crosses 20 and 50 Day Moving Averages

Hourly Update

(Last Updated May 10, 2022 1:42 GMT)

At the time of this writing, GBPCHF’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists 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)

GBPCHF is up 59 pips (0.49%) since the day prior (opening today near 1.2253078188), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 17th for the day in terms of price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed above its 20 and 50 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 20 day average, which is 4.8 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 17 out of the past 30 days.