GBP/CHF Down 5 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 22, 2022 1:43 GMT)

At the time of this writing, GBPCHF’s rate is down -5 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 4 of the past 5 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 1.184767074, down 2 pips 0.02% from yesterday. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF is now close to its 20 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. For additional context, note that price has gone down 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!