The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Compared to its peers in the forex, gbpchf gave its buyers a return that ranked 4th in terms of percentage change since yesterday.
Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
Relative to other instruments in the forex asset class, gbpchf ranked 13th the previous day in terms of percentage price change.
This is a reversal of the price action on the previous hour, in which price moved down.
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpchf.
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.