GBPCHF Down 8 Pips in Last Hour, Underperforms All Forex; Makes Big Move Relative to Two Week Trend – CFDTrading

Hourly Update

(Last Updated April 7, 2021 3:20 GMT)

At the moment, GBPCHF’s rate is down -8 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

GBPCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPCHF is down 155 pips (1.19%) since the previous day (opening today near 1.2870777962), marking the 3rd straight day a decline has happened. On a relative basis, GBPCHF was the worst performer out of all 39 of the assets in the Forex asset class. Let’s take a look at price chart of GBPCHF.

GBPCHF

GBPCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPCHF crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days GBPCHF’s price has gone up 5 them.

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