GBP/CHF Up 27 Pips On 4 Hour Chart, Entered Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

GBP/CHF 4 Hour Price Update

Updated March 25, 2020 01:36 PM GMT (09:36 AM EST)

GBP/CHF is up 27 pips (0.23%) since the previous 4 hours (opening the current 4 hour candle near 1.1645), marking the 11th candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, GBP/CHF ranked 13th 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 25 pips (0.22%) since the day prior (opening today near 1.1551842), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 8th in terms of percentage change since the day prior. Below is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

The first thing we should note is that GBP/CHF is now close to its 20 day averages, located at 1.1792 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 20 day average, which is 240 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days GBP/CHF’s price has gone down 23 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPCHF, with 10 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 3.33, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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