The British Pound has increased its trading range significantly against the Swiss Franc. This movement has been bounced by a two-month ascending channel pattern.
The exchange rate breached a long-term descending channel a few days ago, and by the Asian session on Wednesday, the pair had reached a four-month high mark at 1.3150. his wave pushed the currency pair towards the overbought zone.
By and large, it is likely that bearish sentiment could drive the GBP/CHF currency exchange rate towards a support cluster formed by the weekly PP and the 100-hour simple moving average at 1.2952 during significant following trading sessions.
