GBP/CHF Down 7 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Eyes 50 Day Average

Hourly Update

(Last Updated December 28, 2021 1:44 GMT)

At the moment, GBPCHF’s rate is down -7 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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)

GBPCHF is up 9 pips (0.07%) since the day prior (opening today near 1.2330015996), marking the 5th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 21st the day prior in terms of percentage price change. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

Coming into today 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. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 and 30 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price coming from strong daily support with triple bottom broke structure and retest MA crossed under price lets see whats gne happen