GBPCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Past Month; Crosses 20 Day Moving Average

Hourly Update

(Last Updated June 7, 2021 17:21 GMT)

At the moment, GBPCHF’s rate is down -5 pips (-0.04%) from the hour prior. This is the 3rd consecutive hour GBPCHF has seen its price head down. 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 20, 50, 100 and 200 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)

The back and forth price flow continues for GBPCHF, which started today off at 1.272406421, down 25 pips 0.19% from yesterday. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 25th for the day in terms of price change. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below 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 6.9 pips away. For additional context, note that price has gone up 15 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.