(Last Updated June 3, 2022 1:42 GMT)
At the moment, GBPCHF’s rate is up 3 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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)
The back and forth price flow continues for GBPCHF, which started today off at 1.2045442675, up 23 pips 0.19% from yesterday. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 19th for the day in terms of price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, GBPCHF is now close to its 20, 50 and 100 day averages, located at 1.2171, 1.2201 and 1.2295 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone down 8 them.