GBP/CHF 4H Chart: Decline in sight - Trade Pattern Ideas - Dukascopy Bank
Wed, 07 Nov 2018 07:34:37 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Sell
RSI (14)
Sell
Neutral
Neutral
Stochastic (5; 3)
Neutral
Sell
Neutral
Alligator (13; 8; 5)
Buy
Buy
Sell
SAR (0.02; 0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The British Pound has increased its trading range significantly against the Swiss Franc. This movement has been bounced by a two-month ascending channel pattern.
The exchange rate breached a long-term descending channel a few days ago, and by the Asian session on Wednesday, the pair had reached a four-month high mark at 1.3150. his wave pushed the currency pair towards the overbought zone.
By and large, it is likely that bearish sentiment could drive the GBP/CHF currency exchange rate towards a support cluster formed by the weekly PP and the 100-hour simple moving average at 1.2952 during significant following trading sessions.
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