GBP/CHF 4H: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy
A Descending Triangle pattern formed by GBP/CHF on the April 17 is moving closer to its apex, as both trend lines will converge on July 15, therefore some significant movement can be expected. Even though technical indicators on aggregate are not univocal and sending mixed signals and market sentiment is just slightly bullish (59%), the pair can be very profitable in case of a breakout in any direction.
The pair is trading only 40 pips lower than a very strong resistance level at 1.447, and the fact the Descending Triangles are breaking downward in 64% of all cases are adding to signs the price will continue moving in pattern's boundaries for some time.
© Dukascopy
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