GBPCHF Down 4 Pips in Last Hour, 2 Day Down Streak Broken; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 27, 2021 2:20 GMT)

At the time of this writing, GBPCHF’s rate is down -4 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.2706882496, up 30 pips (0.23%) since the day prior. Relative to other instruments in the Forex asset class, GBPCHF ranked 15th the day prior in terms of percentage price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone down 16 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.