(Last Updated January 12, 2022 1:42 GMT)
At the moment, GBPCHF’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)
After 6 up days, GBPCHF snaps its streak, falling 5 pips (-0.04%) over the past day to close at an exchange rate of 1.2586222725. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 24th in terms of percentage change since the day prior. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Coming into today the current price of GBPCHF is sitting close to its 20, 50, 100 and 200 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 200 day average, which is 4.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 8 them.