(Last Updated February 22, 2021 23:21 GMT)
Currently, GBPCHF’s rate is down -11 pips (-0.09%) 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 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPCHF is up 36 pips (0.29%) since the day prior (opening today near 1.2551465385), marking the 6th straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 13th for the day in terms of price change. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
Coming into today the current price of GBPCHF is sitting close to its 20 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 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 7 them.