Relative to other instruments in the forex asset class, gbpchf ranked 29th the day prior in terms of percentage price change.
This move is a reversal from the hour prior, which saw price move down.
It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign.
The closest is the 20 day average, which is 1.9 pips away.
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpchf.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe.
The closest is the 20 day average, which is 8 pips away.
The closest is the 100 day average, which is 85.9 pips away.