GBPCHF Up 4 Pips in Last Hour, Eyes 20, 50, 100 and 200 Day Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated January 7, 2021 2:20 GMT)

At the time of this writing, GBPCHF’s rate is up 4 pips (0.03%) from the hour prior. The hourly chart shows that GBPCHF has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 1.1946, down 11 pips 0.09% from yesterday. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 29th in terms of percentage change since yesterday. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that GBPCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 19.2 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.