The Pound is surging against the Swiss Franc simultaneously in three ascending various scale channels. The currency pair is setting itself up for a short lived decline, which will transform itself into a surge up to the resistance put up by the 38.20% Fibonacci retracement level at 1.3151. The most relevant retracement levels for this pair are measured by connecting the 2016 low and 2015 high levels. However, for a more short term insight the 2016 low level can be connected with the 2016 high. In addition the hypothesis is reinforced by the fact that the price is closing in on being oversold, as 64% of trader set up orders are short.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 9.54 | 23.60% Fibo | MACD (12; 26; 9) | Sell | Buy | Buy | ||
| R3 | 9.46 | Weekly PP; monthly R1 | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 9.41/42 | Trend line; 55-period SMA | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 9.37 | 100-period SMA | ADX (14) | Neutral | Neutral | Neutral | ||
| S1 | 9.34 | Weekly S1 | CCI (14) | Neutral | Neutral | Sell | ||
| S2 | 9.30/26 | 38.20%; trends; 200-p SMA; month's PP | AROON (14) | Buy | Buy | Buy | ||
| S3 | 9.22 | Weekly S2 | Alligator (13; 8; 5) | Sell | Buy | Buy | ||
| S4 | 9.17 | Monthly S1 | SAR (0.02; 0.2) | Sell | Sell | Buy | ||
| Aggregate | ↘ | → | ↗ |