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 [..]


Technical analysis – GBPCHF consolidates, trapped between moving averages

Posted on October 2, 2019 at 3:39 pm GMT

GBPCHF buyers have reversed the price off the 1.2200 support of the September 12 swing low, after denying sellers a further pullback past the 1.2169 level, which is the 38.2% Fibonacci retracement of the up leg from 1.1671 to 1.2476. Despite the completed bearish crosses of the simple moving averages (SMAs), the price action has risen finding resistance from the 23.6% Fibo of 1.2285 and the 100-period SMA. The short-term indicators reflect easing negative momentum as the MACD is above [..]


Technical Analysis – GBPCHF remains negative but bulls reemerge before breach of swing low

Posted on September 27, 2019 at 1:39 pm GMT

GBPCHF reversed back down from the high of 1.2476 after a one-month rally, driving the price below the simple moving averages (SMAs) and the Ichimoku cloud, until the 1.2200 swing low, where the price halted, following a push higher from buyers. The momentum indicators are reflecting easing in the short-term negative momentum. The RSI has bounced off the 30-level and is pointing up, while the MACD in negative regions is marginally above its red trigger line. That said, the oscillators’ [..]


Technical Analysis – GBPCHF searches for more gains above 50-day SMA

Posted on September 9, 2019 at 1:07 pm GMT

GBPCHF is looking for more buyers to sign up in the short-term as the MACD tries to grow in the positive territory for the first time since April and the RSI is picking up steam in the bullish area. The market is currently making efforts to pierce July’s troughs around 1.2238, though only a bullish explosion above the previous high of 1.2367 would bring the four-month old downtrend in speculation. A step above 1.2535, which is the 50% Fibonacci of [..]


Technical Analysis – GBPCHF enclosed by key Fibonacci boundaries; risk neutral-to-bearish

Posted on August 20, 2019 at 8:49 am GMT

GBPCHF has been hovering between the 23.6% and the 38.2% Fibonacci levels of the bearish move with a top at 1.2367 and a low at 1.1670 over the past two sessions. Technically, the sentiment may hold neutral-to-bearish in the short-term in the four-hour chart as the RSI is currently positioned around its 50 neutral mark and the MACD is deviating below its red signal line. Nevertheless, if the sellers manage to finish the session below the 23.6% Fibonacci of 1.1835 and comfortably under the [..]


Technical Analysis – GBPCHF breaks below 138.2% Fibonacci extension, nears October 2016 lows

Posted on August 6, 2019 at 1:15 pm GMT

GBPCHF tumbled from 1.3400 on May 3, after failing to break above a previous ten-month high. The pair paused slightly around the sixteen-month low of 1.2292, before reviving the down move past 1.1864, being the 138.2% Fibo extension level of the up leg from 1.2292 to 1.3420. The MACD indicator crossed underneath its red trigger line in the negative territory and is showing some acceleration of bearish directional momentum. The ADX agrees, suggesting a strong bearish trend is in place, [..]

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