(Last Updated November 12, 2021 5:19 GMT)
At the time of this writing, GBPCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 1.23206589, up 9 pips 0.07% from the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 20th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that GBPCHF is now close to its 20, 50 and 100 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 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone down 9 them.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPCHF; just 0 sell signals and 3 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Most Indicators show that GBPCHF is favoring the sellers, but from a pure techincal view( only chart and chart patterns, no indicators) I can see a Big Chance For this pair to bounce and hit some big profits.