GBPCHF Up 4 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 26, 2021 3:20 GMT)

At the time of this writing, GBPCHF’s rate is up 4 pips (0.03%) 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. 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)

GBPCHF is down 13 pips (0.1%) since the day prior (opening today near 1.2677282448), marking the 2nd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 29th for the day in terms of price change. Below 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 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!