(Last Updated March 26, 2021 23:21 GMT)
At the time of this writing, GBPCHF’s rate is up 4 pips (0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPCHF has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCHF. Given that we see an uptrend on the 20 and 10 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 back and forth price flow continues for GBPCHF, which started today off at 1.291814987, up 113 pips 0.89% from the previous day. On a relative basis, the previous day was pretty good: GBPCHF bested all 39 of the assets in the Forex class 🙂 Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, GBPCHF crossed above its 20 day moving average yesterday. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone down 6 them.