(Last Updated September 10, 2021 2:20 GMT)
At the time of this writing, GBPCHF’s rate is up 2 pips (0.01%) from the hour prior. The hourly chart shows that GBPCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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)
The back and forth price flow continues for GBPCHF, which started today off at 1.268285228, down 8 pips 0.06% from yesterday. Relative to other instruments in the Forex asset class, GBPCHF ranked 16th yesterday in terms of percentage price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 1.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.