(Last Updated September 17, 2020 23:17 GMT)
Currently, GBPCHF’s rate is down -4 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
GBPCHF is up 38 pips (0.32%) since the previous day (opening today near 1.17023), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 203.4 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. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 7 out of the past 10 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPCHF, with 10 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 10, which is very bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.