GBP/CHF Down 3 Pips in Last Hour, 2 Day Up Streak Ended; Price Base in Formation Over Past 90 Days
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GBPCHF
(Last Updated November 26, 2020)
Welcome to the news page for GBPCHF (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 an uptrend in place for GBPCHF.
GBPCHF Moving Averages
GBPCHF’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bullish, suggesting the trend is generally upward, aside from a decline about 6 months prior.
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 GBPUSD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPCHF is EURGBP. On the flip side, the asset least correlated with GBPCHF over the past week has been USDCHF, but over the past two weeks, the asset least correlated with GBPCHF has been EURUSD. The chart below illustrates GBPCHF against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, GBPCHF’s rate is up 0.004 (0.33%) 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 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. GBPCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPCHF: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
GBPCHF Up 8 Pips On Hourly Chart, 2 Day Up Streak Ended; Price Base in Formation Over Past 90 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 Down 3 Pips Over Past Hour, Entered Today Up For the 2nd Consecutive Day; Price Base in Formation Over Past 90 Days
The closest is the 200 day average, which is 174.3 pips away.
GBPCHF Up 15 Pips in Last Hour, Makes Big Move Relative to Past Month; Breaks Above 20, 50, 100 and 200 Day Averages
It’s been a feast for bulls operating on an hourly timeframe, as gbpchf has now gone up 4 of the past 5 hours.
GBPCHF Up 15 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 30 Days
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
GBPCHF Down 9 Pips in Last Hour, Makes Big Move Relative to Past Month; Breaks Above 20, 50 and 100 Day Averages
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 4 of the past 5 hours.
GBPCHF Down 3 Pips in Last Hour, Makes Big Move Relative to Past Month; Breaks Below 20, 50 and 100 Day Averages
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
GBPCHF Down 56 Pips Over Past Hour, Price Base in Formation Over Past 90 Days; Nears 50 and 100 Day Moving Averages
Relative to other instruments in the forex asset class, gbpchf ranked 16th the day prior in terms of percentage price change.
GBPCHF Up 6 Pips in Last Hour, 2 Day Up Streak Ended; Price Base in Formation Over Past 90 Days
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 22nd in terms of percentage change since the day prior.
GBPCHF Down 7 Pips in Last Hour, Entered Today Up For the 2nd Day In A Row; Breaks Above 20, 50 and 100 Day Averages
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.