GBP/CHF Down 9 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated September 16, 2022 1:42 GMT)

At the moment, GBPCHF’s rate is down -9 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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)

The choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.10118672, down 96 pips (0.87%) since yesterday. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 38th for the day in terms of price change. Below is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that 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 19 out of the past 30 days.