(Last Updated April 23, 2021 2:20 GMT)
Currently, GBPCHF’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on GBPCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
The choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.2690231246, down 80 pips (0.62%) since yesterday. Relative to other instruments in the Forex asset class, GBPCHF ranked 28th yesterday in terms of percentage price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that GBPCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPCHF, with 2 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.4, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.