(Last Updated November 10, 2022 1:50 GMT)
At the moment, GBPCHF’s rate is up 4 pips (0.04%) from the hour prior. The hourly chart shows that GBPCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 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 1.11820776, down 199 pips 1.74% from yesterday. It may be worth observing that GBPCHF was the worst performer of the 39 members in the Forex asset class over the past day. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below its 20 and 100 day moving averages yesterday. 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 15.7 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone up 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.