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GBP-CHF

GBP/CHF 1H Chart: Pair forms triangle-like patternThe British Pound has been appreciating steadily against the Swiss Franc since mid-September. However, the pair has shown reluctance to move past the 1.35 mark—its highest level since the Brexit vote, thus failing to reach the upper channel boundary on two separate occasions within the last two months. As a result, the rate has been constrained in a triangle-like formation between the aforementioned 1.35 mark and the bottom channel line. This situation allows to think that the Pound could edge lower until this channel line, the weekly S1 and the monthly PP located at 1.3250. After that, the rate is expected pick up speed and approach the 1.35 area once again. However, it does face some noteworthy resistance levels along the way, such as the 200-hour SMA at 1.3350 and the combination of the 55– and 100-hour SMAs at 1.34.
by UnknownUnicorn890690
GBP/CHF 4H Chart: At crossroadsThe Pound has recently decline against the Swiss Franc due to not being able to pass the resistance of a medium scale ascending pattern. However, it was already expected that the pattern will be broken. Instead the currency exchange rate has begun a decline to a support cluster near lower trend line of the most dominant ascending pattern. That indicates that the pair should surge and break the resistance of the short term and medium term patterns. Although, in regards to the short term the situation has become unclear, as the short term pattern’s resistance has stopped the recent rebound.
by UnknownUnicorn890690
GBP/CHF 1H Chart: Two opposing patterns on chartGBP/CHF has been trading in a channel down for the last five weeks. The pair was trading along its upper boundary for two sessions prior to breaching this line early today. It could demonstrate a possible breakout; however, this scenario should still be confirmed with more bullish candles, especially given that a breakout of an ascending wedge that occurred on December 28 points to a soon depreciation. Taking this into account, it is expected that the Sterling could still edge slightly higher during the following sessions (possibly up to the 1.3254 area where the monthly PP and the weekly R1 are located), but bears might soon take the upper hand in the market. This should be confirmed by a breakout of the 55-, 200– and 100-hour SMAs circa 1.3205.
by UnknownUnicorn890690
GBP/CHF 1H Chart: Pair tests 2017 highFollowing a steady increase in price since late August, GBP/CHF has entered a six-week period of consolidation. As a result, the Pound has been fluctuating against the Swiss Franc in the 1.3323/1.2971 range. The pair tested the former barrier two times during the past two trading sessions. Technical indicators suggest that the same scenario might occur today, as well. However, given that this level is a 2017 high, it might provide strong resistance, especially when reinforced by the weekly R1. Conversely, it is also possible that the Pound falls down to the weekly PP and the 200-hour SMA circa 1.3155 prior to re-testing the aforementioned high. By and large, it is expected that the pair moves lower in the medium term, possibly down to the 1.2971 area.
by UnknownUnicorn890690
GBPCHF Sell OpportunityThe price broke the uptrend line and moved lower. A new attempt to return above 1.30700 was not successful. The price bounced from this level and it gave us a sell opportunity. Pending orders should be placed at 1.29780 level. Stop orders can be placed at 1.30800 level or above the next swing high at 1.31800 level. Profit targets are 1.28500 and 1.27000 levels. MACD and DMI support downward movement. The daily chart also gives bearish signals but the price is near SMA50 which is a support line. We should be ready to see a short term upward movement before falling to the target levels.
Short
by DLavrov
2
GBP/CHF 1H Chart: Pair tended southThe Pound has been guided by two ascending channels against the Swiss Franc. The senior formation began a year ago, while the junior one has confined the rate since early October. The rate bounced off its four-month high of 1.3326 last Wednesday and has since returned near the 1.3115 mark. As apparent on the chart, the rate has been testing the bottom boundary of the junior channel for the past week. This indicates that the Sterling could be ready to breach the given pattern to the downside. This move would be in line with the senior pattern. It is possible that the nearest downside target is the weekly or monthly S1s at 1.2959 and 1.2910, respectively. Nevertheless, technical indicators suggest that the Pound might still edge slightly higher in this session, possibly up to the 1.3258 mark prior to starting to move south.
by UnknownUnicorn890690