(Last Updated October 15, 2021 23:19 GMT)
Currently, GBPCHF’s rate is down -22 pips (-0.17%) from the hour prior. GBPCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 1.26341278, up 4 pips (0.03%) from yesterday. Relative to other instruments in the Forex asset class, GBPCHF ranked 17th yesterday in terms of percentage price change. Here is a price chart of GBPCHF.
GBPCHF Technical Analysis
Notably, GBPCHF crossed above its 20 day moving average yesterday. 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 3.9 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPCHF, with 1 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0.14, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Trade details for current trade are shown on the chart.Trade has been live since 11:15 UK time and we are using our POW reversal script.We are working the 15M time frame on this strategy.We’re looking for the green line which is take profit target.Little red short arrow is entry point and purple line is stop loss.Previous trades can also be seen on chart.The last trade a long was covered in an idea yesterday and it went on to find TP target. Trade history can be seen at the foot of this trade idea too for full transparency.——————————————I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.Jumping on random trade ideas ‘willy-nilly’ on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.——————————————Please hit the 👍 LIKE button if you like my ideas🙏Also follow my profile, then you will receive a notification whenever I post a trading idea – so you don’t miss them. 🙌No one likes missing out, do they?Also, see my ‘related ideas’ below to see more just like this.The stats for this pair are shown below too.Thank you.Darren