GBP/CHF 4H Chart: Trading along channel

Source: Dukascopy Bank SA

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

The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25. 

The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours. 

Technical indicators flash bearish signals during the following trading sessions; therefore, the currency exchange rate is likely to decline further until it finds support at the monthly and weekly PPs near the 1.2888 mark.

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