GBPCHF Down 0 Pips in Last Hour, Fares the Worst Out of Forex; Crosses 50 Day Moving Average

Hourly Update

(Last Updated January 6, 2021 2:20 GMT)

Currently, GBPCHF’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20, 50, 100 and 200 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 1.19481, down 145 pips 1.2% from the day prior. Those trading within the Forex asset class should know that GBPCHF was the worst performer in the class. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below its 50 day moving average 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 50 day average, which is 14.2 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone down 6 them.