(Last Updated February 19, 2021 23:21 GMT)
At the time of this writing, GBPCHF’s rate is down -5 pips (-0.04%) 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 20 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 58 pips (0.46%) since the day prior (opening today near 1.2515114085), marking the 5th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 5th the day prior in terms of percentage price change. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Coming into today GBPCHF is now close to its 20 day averages, located at 1.2295 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 10 days GBPCHF’s price has gone up 6 them.