(Last Updated December 16, 2021 1:42 GMT)
At the moment, GBPCHF’s rate is up 6 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPCHF has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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 35 pips (0.29%) since yesterday (opening today near 1.226149848), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 20th in terms of percentage change since yesterday. The price chart of GBPCHF below illustrates.
GBPCHF Technical Analysis
Coming into today 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. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBPCHF’s price has gone down 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!