(Last Updated February 19, 2021 0:22 GMT)
At the time of this writing, GBPCHF’s rate is up 5 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 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 20 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 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 48 pips (0.38%) since the previous day (opening today near 1.2457332888), marking the 4th straight day it has gone up. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 6th in terms of percentage change since the previous day. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Coming into today GBPCHF is now close to its 20 day averages, located at 1.2277 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 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 6 them.