GBP/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

The British Pound is continuing to recover against the Swiss Franc in a short-term ascending channel. By this moment, the currency rate has reached the upper channel-line for the second time and made a rebound from it. Accordingly, the gradual decline is expected until l the pair will reach the combined support level formed by the monthly and weekly PP at 1.2425 and 1.2421. If the pair fails to bypass this barrier, the rebound will follow, which might create a rising wedge. If it succeeds, the currency rate will resume its attempt to reach the bottom channel-line. There is also a small possibility the pair will break the upper trend-line of the formation during the first half of Monday's trading session because of the pressure of the 200-period SMA near 1.2467.

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