GBPCHF Up 15 Pips in Last Hour, Makes Big Move Relative to Past Month; Breaks Above 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated November 11, 2020 0:18 GMT)

At the moment, GBPCHF’s rate is up 15 pips (0.12%) 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 50 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)

The back and forth price flow continues for GBPCHF, which started today off at 1.20098, up 185 pips 1.56% from yesterday. Relative to other instruments in the Forex asset class, GBPCHF ranked 11th yesterday in terms of percentage price change. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

First things first: GBPCHF crossed above its 20, 50, 100 and 200 day moving averages yesterday. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 6 them.