GBP/CHF Up 85 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

GBP/CHF 4 Hour Price Update

Updated March 24, 2020 03:18 AM GMT (11:18 PM EST)

The back and forth price flow continues for GBP/CHF, which started the current 4 hour candle off at 1.1378, up 85 pips 0.75% from the previous 4 hours. Relative to other instruments in the Forex asset class, GBP/CHF ranked 8th the previous 4 hours in terms of percentage price change.

GBP/CHF Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

GBP/CHF is up 159 pips (1.4%) since yesterday’s New York session (opening today’s post-New York session near 1.14768), marking the 2nd day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 3.01% from the day prior, but up 68.31% from the same day the week before. Out of the 40 instruments in the Forex asset class, GBP/CHF ended up ranking 6th for the day in terms of price change. Below is a price chart of GBP/CHF.

GBP/CHF Technical Analysis

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 576.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 10 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPCHF, with 5 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.33, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel and relative strength index technical patterns. 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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