GBPCHF Down 0 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Nears 20 and 50 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
(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 2 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; is Inching Close to 20 and 50 Day Averages
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.
GBPCHF Down 2 Pips in Last Hour, Makes Big Move Relative to Past Two Months; in a Downtrend Over Past 30 Days
The closest is the 20 day average, which is 25.1 pips away.
GBPCHF Down 14 Pips in Last Hour, is Inching Close to 20 and 50 Day Averages; Doji and Pin Bar Patterns Appearing on Chart
For additional context, note that price has gone up 7 out of the past 14 days.
GBPCHF Down 7 Pips in Last Hour, Makes Big Move Relative to Past Two Months; in a Downtrend Over Past 14 Days
Relative to other instruments in the forex asset class, gbpchf ranked 2nd yesterday in terms of percentage price change.
GBPCHF Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Came Into Today Up For the 2nd Consecutive Day
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 Up 4 Pips in Last Hour; Makes Big Move Relative to Past Two Months
The closest is the 20 day average, which is 116.8 pips away.
GBP/CHF Down 1 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Moves Down For the 2nd Day In A Row
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPCHF Down 3 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Price Base in Formation Over Past 30 Days
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.
GBPCHF Up 3 Pips Over Past Hour, Makes Big Move Relative to Past Two Months; Price Base in Formation Over Past 30 Days
The closest is the 50 day average, which is 69.5 pips away.