GBPCHF Up 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 28, 2021 2:20 GMT)

Currently, GBPCHF’s rate is up 3 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 1.2707294369, down 0 pips (0%) from the day prior. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 23rd for the day in terms of price change. 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 and 100 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 78.8 pips away. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 7 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPCHF has creating a W formation on the Daily and i’m expecting price to break out of consolidation and go up. I will be buying to 1.27800