GBP/CHF Down 6 Pips Over Past Hour, Moves Down For the 3rd Straight Day; Crosses 20 and 50 Day Moving Averages

Hourly Update

(Last Updated September 22, 2021 1:51 GMT)

At the moment, GBPCHF’s rate is down -6 pips (-0.04%) from the hour prior. GBPCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)

GBPCHF is down 60 pips (0.47%) since yesterday (opening today near 1.2614653557), marking the 3rd straight day it has gone down. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 32nd for the day in terms of price change. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF crossed below its 20 and 50 day moving averages yesterday. 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 200 day average, which is 28.1 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.