As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
The closest is the 100 day average, which is 107.5 pips away.
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.
For additional context, note that price has gone down 6 out of the past 10 days.
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.
Relative to other instruments in the forex asset class, gbp/chf ranked 23rd the day prior in terms of percentage price change.
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
Relative to other instruments in the forex asset class, gbp/chf ranked 4th yesterday in terms of percentage price change.
This imputes a buy/sell ratio of 0.45, which is bearish.
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.