GBP/CHF Up 4 Pips Over Past Hour, Makes Big Move Relative to Past Three Months; Price Base in Formation Over Past 90 Days
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
GBPCHF
(Last Updated April 15, 2021)
Welcome to the news page for GBPCHF (GBPCHF). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for GBPCHF
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United Kingdom BoE Credit Conditions Survey | NA | British Pound | GBP | 2021-04-15 | 08:30 GMT | ||
| United Kingdom BoE Cunliffe Speech | NA | British Pound | GBP | 2021-04-16 | 09:00 GMT |
The Trend
As for trends on GBPCHF, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
GBPCHF Moving Averages
The moving averages on GBPCHF summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, aside from a fall about 3 weeks prior.
Below is a chart showing GBPCHF’s price with its moving averages.
In terms of correlations over the past week for GBPCHF, it has demonstrated the strongest correlation with EURGBP. GBPCHF has been most correlated with EURGBP over the past 14 days also, so this may be a recurring pattern. Alternatively, NZDUSD has been the asset least correlated with GBPCHF — but over the past two weeks, the asset least correlated with GBPCHF has been ZARJPY. The chart below illustrates GBPCHF against its least correlated assets.
.
The View From the Weekly Timeframe
At the moment, GBPCHF’s rate is up 50 pips (0.39%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPCHF has now gone up 8 of the past 10 weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows GBPCHF’s price action over the past year.
GBPCHF: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
GBPCHF Up 20 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Price Base in Formation Over Past 90 Days
The closest is the 50 day average, which is 8.6 pips away.
GBPCHF Down 4 Pips On Hourly Chart, Crosses 20, 50 and 100 Day Moving Averages; Price Base in Formation Over Past 90 Days
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 11th in terms of percentage change since yesterday.
GBPCHF Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Breaks Below 100 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
GBPCHF Up 2 Pips in Last Hour, Makes Big Move Relative to Past Month; Breaks Above 100 Day Average
This is a reversal of the price action on the previous hour, in which price moved down.
GBPCHF Up 3 Pips in Last Hour, Breaks Below 100 Day Average; Price Base in Formation Over Past 30 Days
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
GBPCHF Down 5 Pips Over Past Hour, Makes Big Move Relative to Past Month; Moves Down For the 2nd Day In A Row
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
GBPCHF Up 3 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Moves Down For the 2nd Day In A Row
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.
GBPCHF Down 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Nears 20, 50 and 100 Day Moving Averages
Or to simplify this another way, note that out of the past 30 days gbpchf’s price has gone up 15 them.
GBPCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Past Month; Crosses 20 Day Moving Average
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.