GBPCHF Down 17 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Moves Up For the 3rd Day In A Row

Hourly Update

(Last Updated February 17, 2021 23:20 GMT)

At the time of this writing, GBPCHF’s rate is down -17 pips (-0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)

GBPCHF is up 26 pips (0.21%) since the previous day (opening today near 1.240960473), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 19th the previous day in terms of percentage price change. Below is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, the current price of GBPCHF is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 0 sell signals and 2 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The price is expected to continue to move in an uptrend.