GBP/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair is slowly trailing lower after a 600 pip rally form 28th of August to 13th of September. Despite this distinctive move we could not employ Fibonacci retracements to aid in our analysis. At the moment it is approaching pattern's support and as suggested by the short term technicals it has the propensity to dip below it. Medium and long term technicals, however, give rather strong neutral outlook on the pair suggesting that we should not see any major moves in the nearest future. At the moment it seems that the pair will continue slowly trailing in the boundaries of this Channel Down pattern.

© Dukascopy Bank SA
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