GBPCHF Up 41 Pips On Hourly Chart; Nears 20 Day Moving Average
This imputes a buy/sell ratio of 0.54, which is bearish.
GBPCHF
(Last Updated September 22, 2020)
Hello! This is the news page for 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 a downtrend in place for GBPCHF.
GBPCHF Moving Averages
GBPCHF’s moving averages suggest the trend on a number of time horizons is bearish.
Below is a chart showing GBPCHF’s price with its moving averages.
In terms of correlations over the past week for GBPCHF, it has been most correlated with EURGBP. EURGBP is the asset with which GBPCHF has been most correlated with over the past two weeks as well, so this may be a recurring pattern. Alternatively, the asset least correlated with GBPCHF over the past week has been USDCAD, but over the past two weeks, the asset least correlated with GBPCHF has been ZARJPY. 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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The View From the Weekly Timeframe
At the moment, GBPCHF’s rate is down -0.0043 (-0.36%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. 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 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 Up 8 Pips in Last Hour, 2 Day Down Streak Ended; in an Uptrend Over Past 14 Days
This imputes a buy/sell ratio of 0.41, which is bearish.
GBPCHF Up 6 Pips On Hourly Chart, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 7th in terms of percentage change since the previous day.
GBPCHF Up 27 Pips in Last Hour, 3 Day Up Streak Snapped; in an Uptrend Over Past 30 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.
GBPCHF Down 6 Pips in Last Hour, 3 Day Up Streak Ended; Eyes 200 Day Average
Or to simplify this another way, note that out of the past 14 days gbpchf’s price has gone up 8 them.
GBPCHF Up 2 Pips On Hourly Chart; Entered Today Up For the 2nd Straight Day
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, Entered Today Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days
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 6 Pips Over Past Hour; 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.
GBP/CHF Down 10 Pips in Last 4 Hours, Moves Down For the 2nd Straight Day; is Inching Close to 20, 50 and 100 Day Averages
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 Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Breaks Below 20 and 100 Day Averages
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.