It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 4 of the past 5 hours.
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 17th in terms of percentage change since the day prior.
The closest is the 20 day average, which is 25.1 pips away.
For additional context, note that price has gone up 7 out of the past 14 days.
Relative to other instruments in the forex asset class, gbpchf ranked 2nd yesterday in terms of percentage price change.
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 116.8 pips away.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
The closest is the 50 day average, which is 69.5 pips away.