GBPCHF Down 14 Pips On Hourly Chart, 2 Day Up Streak Ended; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
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 4 Pips Over Past Hour, 2 Day Up Streak Snapped; is Inching Close to 50 Day Average
This move is a reversal from the hour prior, which saw price move up.
GBPCHF Down 1 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Breaks Above 50 Day Average
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
GBPCHF Down 4 Pips in Last Hour, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone down 8 out of the past 14 days.
GBPCHF Up 1 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Eyes 50 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
GBPCHF Down 2 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
GBPCHF Up 2 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Nears 50 Day Moving Average
Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down.
GBPCHF Up 3 Pips Over Past Hour, 6 Day Down Streak Broken; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
GBPCHF Down 2 Pips On Hourly Chart, Moves Down For the 6th Straight Day; 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 Up 4 Pips On Hourly Chart, Crosses 50 Day Moving Average; Price Base in Formation Over Past 14 Days
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.