GBP/CHF Price Recap
GBP/CHF enters today at 1.29532 in US dollars, up 131 pips (1.02%) from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 15.71% from the day prior, and up 38.36% from the same day the week before. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 2nd for the day in terms of day-over-day price change. The price chart of GBP/CHF below illustrates.
GBP/CHF Technical Analysis
Notably, the current price of GBP/CHF is sitting close to its 20 and 50 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 20 day average, which is 140.7 pips away. Volatility for GBP/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.
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