(Last Updated June 13, 2022 1:40 GMT)
Currently, GBPCHF’s rate is down -7 pips (-0.05%) 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. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCHF. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 104 pips (0.85%) since the previous day (opening today near 1.21509512), marking the 2nd day in a row a decline has happened. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 32nd for the day in terms of price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
First things first: GBPCHF crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 2 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.
we expect the price to fall down if all the rules are met