GBP/CHF Down 2 Pips Over Past Hour, Eyes 50 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated December 29, 2021 1:46 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 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)

After 5 up days, GBPCHF snaps its streak, falling 10 pips (-0.08%) over the past day to close at an exchange rate of 1.2319617375. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 19th in terms of percentage change since the previous day. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.