GBP/CHF Up 5 Pips in Last Hour, Moves Down For the 3rd Day In A Row; Breaks Below 20 Day Average
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
GBPCHF
(Last Updated November 27, 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:
The Trend
If we observe the 30 and 14 day timeframes, we see an uptrend in place for GBPCHF.
GBPCHF Moving Averages
GBPCHF’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bullish, suggesting the trend is generally upward, aside from a fall about 6 months prior.
The chart below illustrates.
As for assets in the Forex asset class GBPCHF has been correlated to over the past week, it has been most correlated with EURGBP. GBPCHF has been most correlated with EURGBP over the past 14 days also, so this may be a structural correlation in the market. Alternatively, USDCHF has been the asset least correlated with GBPCHF — but if we observe the prior two weeks, the asset least correlated with GBPCHF has been EURUSD. The chart below illustrates GBPCHF against its least correlated assets.
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The View From the Weekly Timeframe
Currently, GBPCHF’s rate is down -0.0003 (-0.02%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows GBPCHF’s price action over the past year.
GBPCHF: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
GBP/CHF Up 1 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days
Then the uptrend continued and the price has been consistently rejecting the uptrend trendline and today has approached it yet again, along with the 50 simple and exponential moving averages….
GBP/CHF Up 2 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 30 Days
This imputes a buy/sell ratio of 1.25, which is bullish.
GBP/CHF Up 3 Pips Over Past Hour, Moves Up For the 3rd Day In A Row; Sentiment Strongly Favors Sellers
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.
GBP/CHF Up 2 Pips in Last Hour, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
This imputes a buy/sell ratio of 0.08, which is quite bearish.
GBPCHF Up 2 Pips in Last Hour; Price Base in Formation Over Past 90 Days
This move is a reversal from the hour prior, which saw price move down.
GBPCHF Up 2 Pips On Hourly Chart; Price Base in Formation Over Past 90 Days
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPCHF Down 0 Pips On Hourly Chart, 2 Day Up Streak Broken; Doji Pattern Appearing on Chart
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 9 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days
This is the 3rd consecutive hour gbpchf has seen its price head down.
GBPCHF Down 7 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.