GBP/CHF Up 6 Pips Over Past Hour, Makes Big Move Relative to Past Month; Breaks Above 20 Day Average
Trade has been live since 11:15 uk time and we are using our pow reversal script.
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.
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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 Down 22 Pips Over Past Hour, Makes Big Move Relative to Past Month; Sentiment Suggests Sellers in Charge
Trade history can be seen at the foot of this trade idea too for full transparency.——————————————i try and share as many ideas as i can as and when i have time.
GBPCHF Up 6 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Breaks Below 200 Day 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.
GBPCHF Down 5 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 50 and 200 Day Averages
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 8 of the past 10 hours.
GBPCHF Up 16 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 50 and 200 Day Moving Averages
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 4 of the past 5 hours.
GBPCHF Down 12 Pips in Last Hour, Breaks Above 50 and 200 Day Averages; 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.
GBP/CHF Down 10 Pips Over Past Hour, Moves Down For the 2nd Consecutive Day; Eyes 200 Day Average
The closest is the 200 day average, which is 62.8 pips away.
GBPCHF Up 9 Pips On Hourly Chart; Crosses 20 and 100 Day Moving Averages
Relative to other instruments in the forex asset class, gbpchf ranked 31st the day prior in terms of percentage price change.
GBP/CHF Down 2 Pips Over Past Hour, Makes Big Move Relative to Past Three Months; 4 Day Down Streak Snapped
This move is a reversal from the hour prior, which saw price move up.
GBP/CHF Down 1 Pips in Last Hour, Came Into Today Down For the 4th Day In A Row; Price Base in Formation Over Past 14 Days
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.