GBP/CHF 4 Hour Price Update
Updated June 30, 2020 09:08 PM GMT (05:08 PM EST)
GBP/CHF is up 29 pips (0.25%) since the previous 4 hours (opening the current 4 hour candle near 1.1737), marking the 2nd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, GBP/CHF ranked 6th the previous 4 hours in terms of percentage price change.
GBP/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBP/CHF is up 13 pips (0.11%) since yesterday (opening today near 1.171042859), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 15th for the day in terms of price change. Let’s take a look at price chart of GBP/CHF.
GBP/CHF Technical Analysis
The first thing we should note is that the current price of GBP/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 150.9 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days GBP/CHF’s price has gone up 8 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPCHF, with 11 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of flag and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Rising flag, rejecting the resistance of the flag, huge continuation pattern, easy trade back down to the support of flag.