GBP/CHF 1H Chart: Long-term channel in sight

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

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

The British Pound has been appreciating against the Swiss Franc since the beginning of January when the currency pair reversed from the support level formed by a combination of the monthly S1 and Fibonacci 0.00% retracement circa 1.2330.  

Currently, the exchange rate is testing the upper boundary of the long-term descending channel located circa 1.2900. If given channel holds, a reversal south occurs in the nearest future. A possible downside target is the monthly PP at 1.2565. 

Otherwise, a breakout from the channel occurs soon. It is likely that the rate targets the Fibonacci 50.00% retracement at 1.3091.

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