(Last Updated April 22, 2022 1:46 GMT)
At the time of this writing, GBPCHF’s rate is up 8 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend 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 16 pips (0.13%) since the previous day (opening today near 1.2418712022), marking the 3rd consecutive day it has gone up. Relative to other instruments in the Forex asset class, GBPCHF ranked 19th the previous day in terms of percentage price change. Below is a price chart of GBPCHF.
GBPCHF Technical Analysis
The first thing we should note is that GBPCHF is now close to its 20, 50, 100 and 200 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 up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 10 out of the past 14 days.