GBPCHF Up 6 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Breaks Below 200 Day Average

Hourly Update

(Last Updated October 15, 2021 1:20 GMT)

At the moment, GBPCHF’s rate is up 6 pips (0.05%) from the hour prior. This is the 2nd hour in a row GBPCHF has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 1.2629734443, down 9 pips (0.07%) from the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 24th in terms of percentage change since the previous day. Here is a price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Notably, GBPCHF crossed below its 200 day moving average yesterday. 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 8.6 pips away. 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. Or to simplify this another way, note that out of the past 14 days GBPCHF’s price has gone down 8 them.