GBP/CHF Up 3 Pips On 4 Hour Chart, Makes Big Move Relative to Past Month; is Inching Close to 20 Day Average

GBP/CHF 4 Hour Price Update

Updated July 24, 2020 01:09 PM GMT (09:09 AM EST)

GBP/CHF is up 3 pips (0.03%) since the last 4 hour candle (opening the current 4 hour candle near 1.1786), marking the 2nd candle in a row an increase has occurred. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 11th in terms of percentage change since the last 4 hour candle.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/CHF is down 7 pips (0.06%) since the day prior (opening today near 1.1782121568), marking the 4th day in a row it has gone down. Relative to other instruments in the Forex asset class, GBP/CHF ranked 34th the day prior in terms of percentage price change. Let’s take a look at price chart of GBP/CHF.

GBP/CHF Technical Analysis

The first thing we should note is that GBP/CHF is now close to its 20, 50 and 100 day averages, located at 1.1825, 1.1874 and 1.1927 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 16 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.07, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.