GBP/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Just like many other currency exchange rates the GBP/CHF currency pair is simultaneously trading in more than one pattern. Most recently the currency exchange rate bounced off a medium term descending channel's upper trend line. The move was followed by the rates fall below a short term ascending channel's lower trend line. However, this is not surprising, as the currency pair on January 31 met with a combined support level of the large scale ascending channel's and medium term channel's support lines. Due to that fact it is expected that the rate will soon begin the forming of a new medium term pattern, while the previous one losses its strength. In general it can be safely assumed that the pair is preparing for a medium term surge to the long term channel's upper trend line.
© Dukascopy Bank SA
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