(Last Updated February 15, 2021 23:20 GMT)
At the time of this writing, GBPCHF’s rate is down -6 pips (-0.04%) from the hour prior. GBPCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
A moment of silence, please, for the end of GBPCHF’s 3 day down streak; price ended yesterday up 64 pips (0.52%) to finish the day at a rate of 1.235761216. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 2nd for the day in terms of price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, the current price of GBPCHF 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone up 17 them.