GBPCHF Up 2 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
(Last Updated February 24, 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 Monetary Policy Report Hearings | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT | ||
United Kingdom BoE Gov Bailey Testimony | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT | ||
United Kingdom Nationwide Housing Prices YoY | Feb 2021 | British Pound | GBP | 2021-02-26 | 07:00 GMT | ||
United Kingdom Nationwide Housing Prices MoM | Feb 2021 | British Pound | GBP | 2021-02-26 | 07:00 GMT | ||
Switzerland KOF Leading Indicators | Feb 2021 | Swiss Franc | CHF | 2021-02-26 | 08:00 GMT | 96.6 |
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.
Regarding GBPCHF’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURCHF. Over the past 14 days, however, EURGBP is the asset most correlated to GBPCHF. On the flip side, USDNOK has been the asset least correlated with GBPCHF — but over the past two weeks, the asset least correlated with GBPCHF has been CHFJPY. 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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Currently, GBPCHF’s rate is up 225 pips (1.79%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPCHF has now gone up 9 of the past 10 weeks. Regarding the trend, note that the strongest trend exists on the 5 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.
Monthly trend: strongest on the 120 month timeframe.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
This is a reversal of the price action on the previous hour, in which price moved up.
This is the 2nd straight hour gbpchf has seen its price head down.
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.
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.
Or to simplify this another way, note that out of the past 14 days gbpchf’s price has gone up 9 them.
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 14th in terms of percentage change since the previous day.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
Of note is that the 100 hour changed directions on gbpchf; it is now pointing up.