GBPCHF Down 12 Pips in Last Hour, 3 Day Up Streak Broken; in an Uptrend Over Past 30 Days
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
(Last Updated January 18, 2021)
Hello! This is the news page for GBPCHF. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
United Kingdom BoE Haldane Speech | NA | British Pound | GBP | 2021-01-19 | 18:00 GMT | ||
United Kingdom Inflation Rate MoM | Dec 2020 | British Pound | GBP | 2021-01-20 | 07:00 GMT | 0.2% | |
United Kingdom Core Inflation Rate YoY | Dec 2020 | British Pound | GBP | 2021-01-20 | 07:00 GMT | 1.3% | |
United Kingdom Inflation Rate YoY | Dec 2020 | British Pound | GBP | 2021-01-20 | 07:00 GMT | 0.5% | |
United Kingdom BoE Gov Bailey Speech | NA | British Pound | GBP | 2021-01-20 | 17:00 GMT |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for GBPCHF.
The moving averages on GBPCHF indicate a trend that is clearly bullish.
The chart below illustrates.
As for assets in the Forex asset class GBPCHF has been correlated to over the past week, it has demonstrated the strongest correlation with GBPJPY. If we zoom out to a two week basis, though, EURGBP is the asset most correlated to GBPCHF. On the flip side, AUDUSD has been the asset least correlated with GBPCHF — but over the past two weeks, the asset least correlated with GBPCHF has been NZDUSD. See the chart below to observe the recent price action in GBPCHF versus those of assets it hasn’t been well correlated with.
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At the moment, GBPCHF’s rate is up 111 pips (0.92%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPCHF has now gone up 4 of the past 5 weeks. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. 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. GBPCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
Strongest trend on the 120 month timeframe.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
For additional context, note that price has gone up 8 out of the past 14 days.
Or to simplify this another way, note that out of the past 10 days gbpchf’s price has gone up 6 them.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 8th in terms of percentage change since the previous day.
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 21st in terms of percentage change since the previous day.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
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.
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.