(Last Updated April 8, 2021 3:20 GMT)
At the time of this writing, GBPCHF’s rate is up 2 pips (0.01%) from the hour prior. This is the 3rd hour in a row GBPCHF has seen its price head up. 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 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)
GBPCHF is down 100 pips (0.78%) since the previous day (opening today near 1.2770554086), marking the 4th day in a row a decline has happened. Out of the 39 instruments in the Forex asset class, GBPCHF ended up ranking 37th for the day in terms of price change. Here is a price chart of GBPCHF.
GBPCHF Technical Analysis
Coming into today GBPCHF is now close to its 20 and 50 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. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.