GBP/CHF Up 17 Pips On 4 Hour Chart, Moves Up For the 4th Day In A Row; in a Downtrend Over Past 14 Days
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
GBPCHF
(Last Updated July 7, 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
On GBPCHF, there is currently a downtrend on the 90 and 30 day timeframes.
GBPCHF Moving Averages
Across several time periods between 20 and 200 days, the trend on GBPCHF has remained consistently bearish.
Below is a chart showing GBPCHF’s price with its moving averages.
Regarding GBPCHF’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPCHF is GBPUSD. Alternatively, EURCAD has been the asset least correlated with GBPCHF — but if we observe the prior two weeks, USDHKD has been the asset least correlated with GBPCHF. The chart below illustrates GBPCHF against its least correlated assets.
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GBP/CHF Down 8 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
The closest is the 100 day average, which is 107.5 pips away.
GBP/CHF Down 21 Pips On 4 Hour Chart, 4 Day Down Streak Broken; in a Downtrend 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.
GBP/CHF Down 7 Pips Over Past 4 Hours, 3 Day Down Streak Snapped; in a Downtrend Over Past 14 Days
For additional context, note that price has gone down 6 out of the past 10 days.
GBP/CHF Down 19 Pips in Last 4 Hours, Moves Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
GBP/CHF Down 9 Pips On 4 Hour Chart, Sentiment Suggests Buyers in Charge; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, gbp/chf ranked 23rd the day prior in terms of percentage price change.
GBP/CHF Down 54 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; Crosses 20 and 50 Day Moving Averages
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
GBP/CHF Up 15 Pips in Last 4 Hours, Makes Big Move Relative to Past Two Months; Entered Today Up For the 2nd Day In A Row
Relative to other instruments in the forex asset class, gbp/chf ranked 4th yesterday in terms of percentage price change.
GBP/CHF Down 3 Pips in Last 4 Hours, Came Into Today Down For the 5th Day In A Row; Price Base in Formation Over Past 90 Days
This imputes a buy/sell ratio of 0.45, which is bearish.
GBP/CHF Down 12 Pips On 4 Hour Chart, Came Into Today Down For the 4th Day In A Row; in an Uptrend Over Past 14 Days
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.