GBP/CHF Down 3 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 4, 2022 1:41 GMT)

Currently, GBPCHF’s rate is down -3 pips (-0.02%) from the hour prior. The hourly chart shows that GBPCHF has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPCHF. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 1.160071897, down 10 pips (0.09%) from the day prior. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 17th for the day in terms of price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.