GBP/CHF Up 8 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Nears 20 Day Moving Average

Hourly Update

(Last Updated July 15, 2022 1:44 GMT)

At the time of this writing, GBPCHF’s rate is up 8 pips (0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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, which opened today priced near 1.164484708, is up 39 pips 0.34% since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, GBPCHF ranked 18th the day prior in terms of percentage price change. The price chart of GBPCHF below illustrates.

GBPCHF

GBPCHF Technical Analysis

Notably, the current price of GBPCHF 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. Volatility for GBPCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 9 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The Swiss Franc has emerged as a dark horse ever since the June 16th, 2022 rate meeting.