GBPCHF Up 2 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Nears 50 Day Moving Average

Hourly Update

(Last Updated April 14, 2021 3:20 GMT)

Currently, GBPCHF’s rate is up 2 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 1.2664178503, down 20 pips 0.16% from the day prior. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 25th in terms of percentage change since the day prior. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

The first thing we should note is that the current price of GBPCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone down 17 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 4 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a elliott wave technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

👋 Hello and welcome traders to another trade idea with SunnyHillCapital☝️ Firstly, if you like what you see, please support our work by writing a comment and SMASH that like button! 👍 Let’s catch these moves together! ✅ 💡 Why should you follow our profile on TradingView? Consistent chart updates Clean charts Short and long-term perspectives Visually teaches you valuable lessons High probability setups Analysis on a wide range of major markets SMASH that follow button! 👍 💡 Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.Thank you for reading,Cheers to many pips! 🤝