GBP/CHF Down 11 Pips On 4 Hour Chart, 2 Day Up Streak Ended; in a Downtrend Over Past 30 Days

GBP/CHF 4 Hour Price Update

Updated March 26, 2020 05:16 AM GMT (01:16 AM EST)

GBP/CHF is down 11 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 1.1548), marking the 2nd candle in a row a decline has happened. Relative to other instruments in the Forex asset class, GBP/CHF ranked 30th the last 4 hour candle in terms of percentage price change.

GBP/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of GBP/CHF continues; to start today, it came in at a price of 1.15498356, down 2 pips (0.02%) since yesterday. Compared to its peers in the Forex, GBP/CHF gave its buyers a return that ranked 19th in terms of percentage change since yesterday. The price chart of GBP/CHF below illustrates.

GBP/CHF Technical Analysis

Notably, the current price of GBP/CHF is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 207.1 pips away. Volatility for GBP/CHF 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 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBP/CHF’s price has gone down 23 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 9 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2.25, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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