GBPCHF Down 7 Pips in Last Hour, Outperforms All Forex; Came Into Today Up For the 2nd Straight Day

Hourly Update

(Last Updated January 1, 2021 3:20 GMT)

Currently, GBPCHF’s rate is down -7 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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)

GBPCHF is up 95 pips (0.79%) since the day prior (opening today near 1.20935), marking the 2nd straight day it has gone up. For context, observe that the day prior was noteworthy in the sense that GBPCHF bested all 40 of the assets in the Forex class. Below is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 50 day average, which is 133 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 8 them.