(Last Updated August 5, 2022 1:43 GMT)
At the moment, GBPCHF’s rate is down -26 pips (-0.22%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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)
The back and forth price flow continues for GBPCHF, which started today off at 1.160881479, down 52 pips 0.45% from the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Here is a price chart of GBPCHF.
GBPCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below its 20 day moving average yesterday. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 19 out of the past 30 days.