Technical Analysis

GBP/CHF 4H Chart: Trading Along Channel

Typography

The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25.

The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours.

Technical indicators flash bearish signals during the following trading sessions; therefore, the currency exchange rate is likely to decline further until it finds support at the monthly and weekly PPs near the 1.2888 mark.

Author: Dukascopy Swiss FX GroupWebsite: http://www.dukascopy.com/
Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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