If you think my analysis is good and useful, thank you.
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.
The closest is the 200 day average, which is 174.3 pips away.
It’s been a feast for bulls operating on an hourly timeframe, as gbpchf has now gone up 4 of the past 5 hours.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpchf.
It’s been a feast for bears operating on an hourly timeframe, as gbpchf has now gone down 4 of the past 5 hours.
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.
Relative to other instruments in the forex asset class, gbpchf ranked 16th the day prior in terms of percentage price change.
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.
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.