GBPCHF Down 7 Pips Over Past Hour, Outperforms All Forex; Entered Today Up For the 2nd Day In A Row

Hourly Update

(Last Updated January 4, 2021 2:20 GMT)

At the time of this writing, GBPCHF’s rate is down -7 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

GBPCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPCHF is up 95 pips (0.79%) since yesterday (opening today near 1.20935), marking the 2nd day in a row an increase has occurred. For context, observe that yesterday was noteworthy in the sense that GBPCHF bested all 40 of the assets in the Forex class. Let’s take a look at price chart of GBPCHF.

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. 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 50 day average, which is 133 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.