GBP/CHF Up 5 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Straight Day

Hourly Update

(Last Updated January 5, 2022 1:43 GMT)

At the time of this writing, GBPCHF’s rate is up 5 pips (0.04%) from the hour prior. This is the 2nd hour in a row GBPCHF has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 10 pips (0.08%) since the previous day (opening today near 1.2397800984), marking the 2nd straight day an upward move has occurred. Relative to other instruments in the Forex asset class, GBPCHF ranked 20th the previous day 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 1.2275, 1.2344, 1.2491 and 1.2603 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 8 out of the past 10 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPCHF Break Resistance Level H1.SL : 1.2351TP 1 : 1.2434TP 2 : 1.2513