GBP/CHF Down 5 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 30 Days

GBP/CHF 4 Hour Price Update

Updated July 01, 2020 01:06 AM GMT (09:06 PM EST)

The back and forth price flow continues for GBP/CHF, which started the current 4 hour candle off at 1.1732, down 5 pips 0.04% from the last 4 hour candle. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 33rd 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 up 21 pips (0.18%) since the previous day (opening today near 1.1731137514), marking the 4th day in a row an upward move has occurred. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 16th in terms of percentage change since the previous day. Here is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

Coming into today GBP/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days GBP/CHF’s price has gone up 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 18 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 2.57, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Rising flag, rejecting the resistance of the flag, huge continuation pattern, easy trade back down to the support of flag.