GBP/CHF Up 11 Pips On Hourly Chart, 2 Day Down Streak Snapped; Crosses 20 and 100 Day Moving Averages

Hourly Update

(Last Updated November 24, 2022 1:42 GMT)

Currently, GBPCHF’s rate is up 11 pips (0.1%) 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 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 1.137663475, up 63 pips (0.55%) since the previous day. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 11th for the day in terms of price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

First things first: GBPCHF crossed above its 20 and 100 day moving averages yesterday. 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 48.1 pips away. For additional context, note that price has gone up 6 out of the past 10 days.