(Last Updated November 15, 2021 1:40 GMT)
Currently, GBPCHF’s rate is up 12 pips (0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 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)
GBPCHF is up 35 pips (0.29%) since the previous day (opening today near 1.235612187), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 7th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, GBPCHF is now close to its 20, 50 and 100 day averages, located at 1.2507, 1.2597 and 1.2624 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.