GBP/CHF Down 19 Pips in Last 4 Hours, Moves Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

GBP/CHF 4 Hour Price Update

Updated June 18, 2020 09:10 AM GMT (05:10 AM EST)

The back and forth price flow continues for GBP/CHF, which started the current 4 hour candle off at 1.1895, down 19 pips 0.16% from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, GBP/CHF ended up ranking 33rd for the four-hour candle in terms of price change.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/CHF is down 6 pips (0.05%) since yesterday (opening today near 1.1904624189), marking the 3rd day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 24th for the day in terms of price change. Here is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

Notably, GBP/CHF is now close to its 20, 50 and 100 day averages, located at 1.1992, 1.1971 and 1.1975 respectively, and thus may be at a key juncture along those timeframes. 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 66.8 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 down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 6 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of trendline and wedge technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.