Technical Analysis – GBPCHF reverses at 200-day SMA, prolonging sideways pattern

Posted on September 3, 2020 at 12:32 pm GMT

GBPCHF pivoted at the 200-day simple moving average (SMA) preserving the horizontal structure and reinforcing its confines of 1.1628 and 1.2257. The 50- and 100-day SMAs have adopted a relatively neutral bearing, which may be aiding the directionless market. Nonetheless, the short-term oscillators mirror the recent weakness in the price, suggesting growing negative momentum. The MACD, in the positive region, stands above its red trigger line but looks to have paused. The falling RSI deflected off the 70 mark, while [..]


Technical Analysis – GBPCHF’s positive pressures attempt to halt the decline

Posted on July 7, 2020 at 2:58 pm GMT

GBPCHF seems to have found a foothold on the 1.1760 level, that being the 38.2% Fibonacci retracement of the down leg from 1.2819 to the all-time low of 1.1109. The recent appreciation in price appears to have backing from the short-term oscillators, which could extend it towards the downward sloping 50- and 100-day simple moving averages (SMAs). The MACD, in the negative region, has moved above its red trigger line, while the RSI has pushed over the 50 threshold. In [..]


Technical Analysis – GBPCHF attempts to shift negative bias with new found confidence

Posted on March 26, 2020 at 4:17 pm GMT

GBPCHF’s recent pullback seems to be struggling to decisively close above the area from the 1.1671 inside swing low – from August 2019 – to the fresh highs of 1.1717, after plotting an all-time low of 1.1109. The short-term oscillators reflect increasing positive momentum for now. The MACD, in the positive zone, has improved slightly above its red trigger line, while the rising RSI is eyeing the 70 level. Further backing this near-term view are the stochastic lines, which are [..]


Technical Analysis – GBPCHF stabilizes around 4-month low; bears could keep control

Posted on March 4, 2020 at 10:19 am GMT

GBPCHF slumped below the 200-day simple moving average (SMA) which proved an easy obstacle this time but the former strong support region around 1.2190 from the 2016-2017 period came to the rescue. Although the RSI, Stochastics and Bollinger bands reflect oversold conditions, the indicators have yet to reverse north, keeping the short-term bias negative. Should the wall around 1.2190 collapse, the sell-off could stretch until the 1.2090 familiar barrier, a break of which could stage another downfall towards 1.1900. On [..]


Technical Analysis – GBPCHF holds in consolidation pattern, unlikely to break out soon

Posted on February 26, 2020 at 4:32 pm GMT

GBPCHF has been consolidating since reaching a 7-month peak of 1.3307 in December, forming a ceiling around 1.2850 and a floor around 1.2530 in a sideways range. It’s worth pointing out though, that price action has recently moved below the Ichimoku cloud, suggesting that the risk of a breakout below the range is greater than that of an upside break. The momentum indicators also point to a slight downside risk as the RSI has reversed lower, dipping into bearish territory, [..]


Technical Analysis – GBPCHF looks undecided after its pullback off the December 2019 high

Posted on January 24, 2020 at 1:06 pm GMT

GBPCHF’s correction from the seven-month high of 1.3307 bounced off the 200-day simple moving average (SMA) and is now confined between the downward sloping 40-day SMA and the flat 20-day one, located at 1.2682, which is the 38.2% Fibonacci retracement of the up leg from 1.1671 to 1.3307. The short-term oscillators are reflecting mixed signals in momentum. The MACD in the negative zone has moved above its red trigger line, while the Stochastics’ %K line has deflected off the 80 [..]


Technical Analysis – GBPCHF enters bearish area; maintains uptrend in medium-term

Posted on December 23, 2019 at 3:38 pm GMT

GBPCHF lost significant ground and dived below its 20- and 50-day simple moving averages (SMAs) after unsuccessfully attempting to grow into the 1.3300 region. The market is currently trading in bearish waters according to the RSI, which is strengthening to the downside and below 50, while the slowing MACD that deviates under its red signal line endorses the negative correction as well. The 38.2% Fibonacci of 1.2682 of the 1.2670-1.3307 bullish wave is keeping the bears under control at the moment. If it [..]


Technical Analysis – GBPCHF remains bullish, although 1.2935 denies further gains

Posted on December 2, 2019 at 4:17 pm GMT

GBPCHF looks to be holding onto its positive stance despite deflecting off the 1.2935 resistance from May 21. Backing this, are the upward-sloping simple moving averages (SMAs) and the Ichimoku cloud. On the other hand, the pause upwards is aided by the flat Tenkan-sen and Kijun-sen lines as well as the short-term oscillators, which reflect easing in the positive momentum. The MACD, in the positive region has dipped below its red trigger line, while the RSI has retreated before claiming [..]


Technical Analysis – GBPCHF forms a bullish rectangle; short-term bias neutral

Posted on November 1, 2019 at 10:49 am GMT

GBPCHF has formed a rectangle in the four-hour chart that is part of a broader upward pattern started from an 8-year low of 1.1670 in August. The flattening RSI and the muted MACD provide no clue that the consolidation phase may end in the near term. Nevertheless, buyers would be eagerly waiting for a decisive close above 1.2820 and the resistance line, in which case additional gains could follow, with the price stalling initially near 1.2890 and then within the 1.2970-1.3000 zone. [..]

Technical Analysis – GBPCHF looks overbought after steep rally

Posted on October 11, 2019 at 7:22 am GMT

GBPCHF staged an impressive rally on Thursday, recouping most of the losses recorded since mid-September and rising well above its simple moving averages (SMA) and the Ichimoku cloud on the four-hour chart. The forceful upside correction, however, looks fragile as the fast-stochastics and the RSI signal overbought conditions, indicating that the bullish action is running out of steam and downside pressures may occur in the short-term. To keep the bulls in play, the price needs to hold above 1.2380 and more importantly on top of [..]

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