(Last Updated May 28, 2020)
Welcome to the news page for GBPCHF (GBPCHF). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
On GBPCHF, there is currently a downtrend on the 90 and 30 day timeframes.
Across several time periods between 20 and 200 days, the trend on GBPCHF has remained consistently bearish.
The chart below illustrates.
As for correlation, In terms of correlations over the past week for GBPCHF, it has demonstrated the strongest correlation with GBPUSD. GBPCHF has been most correlated with GBPUSD over the past 14 days also, so this may be a structural correlation in the market. Alternatively, the asset least correlated with GBPCHF over the past week has been AUDCAD, but over the past two weeks, the asset least correlated with GBPCHF has been USDHKD. See the chart below to observe the recent price action in GBPCHF versus those of assets it hasn’t been well correlated with.
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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.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
Or to simplify this another way, note that out of the past 30 days gbp/chf’s price has gone up 18 them.
This imputes a buy/sell ratio of 0.5, which is bearish.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
This imputes a buy/sell ratio of 0.87, which is neutral.
This imputes a buy/sell ratio of 0.87, which is neutral.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
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.