The Pound is approaching a significant region of support against the Swiss Franc, as the active medium term channel down pattern is guiding the currency exchange rate down to the lower trend line of a dominant pattern. The dominant pattern is a simple ascending channel. However, there is a problem, why that lower trend line might not be reached so soon. The 23.60% Fibonacci retracement level of the 2015 high and 2016 low levels at the 1.2579 level is providing significant support and might actually break the medium term channel. In that case the pair would trade rather flat until the support of the dominant channel joins the Fibo and pushes the rate higher.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.2878 | Weekly R1 | MACD (12; 26; 9) | Sell | Sell | Buy | ||
| R3 | 1.2804 | 100-period SMA | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 1.2723/57 | 55 and 200-period SMAs; PPs | Stochastic (5; 3; 3) | Neutral | Neutral | Sell | ||
| R1 | 1.2650 | Trend line | ADX (14) | Neutral | Neutral | Neutral | ||
| S1 | 1.2594/64 | Monthly and weekly S1s; 23.60% Fibo | CCI (14) | Buy | Neutral | Neutral | ||
| S2 | 1.2510 | Trend line | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.2439/38 | Weekly S2; trend line | Alligator (13; 8; 5) | Sell | Sell | Buy | ||
| S4 | 1.2294 | Monthly S2 | SAR (0.02; 0.2) | Sell | Sell | Buy | ||
| Aggregate | → | ↘ | ↗ |