GBP/CHF 4H Chart: Remains near support cluster

Source: Dukascopy Bank SA

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

The Pound Sterling has decreased its trading range against the Swiss Franc since the beginning of November after the currency pair reversed from the upper boundary of a dominant descending channel pattern at 1.3150 on November 8.

A support cluster formed by the weekly and the monthly PPs at 1.2714 was providing support for the exchange rate during the morning hours of Thursday's session.

If the cluster holds, the currency exchange rate will move towards the 50-hour simple moving average at 1.2896 within this session.

On the other hand, if the rate passes the support cluster, the next target for bearish traders will be near September swing low of 1.2514 during the following trading sessions.

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