GBPCHF Down 7 Pips in Last Hour, Makes Big Move Relative to Past Two Months; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 23, 2021 23:20 GMT)

Currently, GBPCHF’s rate is down -7 pips (-0.05%) from the hour prior. This is the 3rd straight hour GBPCHF has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

GBPCHF is up 74 pips (0.59%) since yesterday (opening today near 1.265885797), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, GBPCHF ranked 2nd yesterday in terms of percentage price change. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.2695, 1.2714, 1.2758 and 1.2436 respectively, and thus may be at a key juncture along those timeframes. 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 36.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Not much commentary on GBPCHF that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.