GBP/CHF Heads Down For the 8th Day In A Row; in a Downtrend Over Past 30 Days

GBP/CHF Price Recap

GBP/CHF is down 79 pips (0.67%) since yesterday (with its current price near 1.16108), marking the 8th day in a row a decrease has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 21.68% from the day prior, and up 203.53% from the same day the week before. Relative to other instruments in the Forex asset class, GBP/CHF ranked 26th yesterday in terms of percentage price change. Here is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

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 20 day average, which is 703.4 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 19 out of the past 30 days.