(Last Updated April 1, 2021 0:21 GMT)
At the moment, GBPCHF’s rate is up 5 pips (0.04%) from the hour prior. This is the 2nd straight hour GBPCHF has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for GBPCHF, which started today off at 1.2948227952, up 19 pips 0.14% from the previous day. Compared to its peers in the Forex, GBPCHF gave its buyers a return that ranked 12th in terms of percentage change since the previous day. Here is a price chart of GBPCHF.
GBPCHF Technical Analysis
Coming into today GBPCHF is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.