(Last Updated November 17, 2021 1:48 GMT)
Currently, GBPCHF’s rate is up 5 pips (0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCHF has now gone down 4 of the past 5 hours. 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 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 80 pips (0.64%) since the previous day (opening today near 1.2489374928), marking the 4th day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 10th for the day in terms of price change. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Notably, GBPCHF crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone up 7 them.