GBP/CHF Up 67 Pips Over Past 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

GBP/CHF 4 Hour Price Update

Updated March 31, 2020 01:10 PM GMT (09:10 AM EST)

GBP/CHF is up 67 pips (0.56%) since the previous 4 hours (opening the current 4 hour candle near 1.1928), marking the 2nd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, GBP/CHF ranked 6th the previous 4 hours in terms of percentage price change.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/CHF entered today at 1.18581951, down 36 pips (0.3%) from the previous day. Relative to other instruments in the Forex asset class, GBP/CHF ranked 35th the previous day in terms of percentage price change. Here is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

Coming into today GBP/CHF is now close to its 20 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 166.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 30 days GBP/CHF’s price has gone down 21 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 4 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.31, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a gartley technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

It’s on reversal zone already but if it can test other levels of prz, keep watching for short.