(Last Updated January 15, 2021 3:21 GMT)
Currently, GBPCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend 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)
The choppiness in the recent daily price action of GBPCHF continues; to start today, it came in at a price of 1.21488, up 55 pips (0.46%) since the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 8th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that GBPCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on GBPCHF, with 3 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.38, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.