GBPCHF Down 11 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated February 16, 2021 23:20 GMT)

Currently, GBPCHF’s rate is down -11 pips (-0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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 1.2383510139), marking the 2nd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 15th for the day in terms of price change. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

Coming into today GBPCHF is now close to its 20 and 50 day averages, located at 1.2248 and 1.2083 respectively, and thus may be at a key juncture along those timeframes. 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 30 days GBPCHF’s price has gone up 18 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 2 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.