(Last Updated July 29, 2022 1:42 GMT)
Currently, 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)
GBPCHF entered today at 1.162048888, down 55 pips (0.47%) from yesterday. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 25th for the day in terms of price change. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Notably, GBPCHF crossed below its 20 day moving average yesterday. 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. 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. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone down 6 them.