GBP/CHF Up 8 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated September 22, 2022 1:41 GMT)

Currently, GBPCHF’s rate is up 8 pips (0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 down 101 pips (0.92%) since yesterday (opening today near 1.08709776), marking the 2nd straight day a decline has happened. Relative to other instruments in the Forex asset class, GBPCHF ranked 32nd yesterday in terms of percentage price change. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

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 30 days GBPCHF’s price has gone down 18 them.