GBPCHF Up 16 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 50 and 200 Day Moving Averages

Hourly Update

(Last Updated October 8, 2021 10:20 GMT)

At the moment, GBPCHF’s rate is up 16 pips (0.13%) 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. As for the trend on the hourly timeframe, we see the clearest trend 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 entered today at 1.2644008839, up 38 pips (0.3%) from the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 11th in terms of percentage change since the previous day. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed above its 50 and 200 day moving averages yesterday. 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 4.5 pips away. For additional context, note that price has gone down 8 out of the past 14 days.