GBP/CHF 1D Chart: Rectangle

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been trading in a 810 pip range since the end of January, 2013. At the moment it is moving towards the pattern's support and at the moment it is trading slightly above the 100 and 200-day SMAs. It seems that weekly PP is putting some pressure on the pair at the moment as well. Pair has been trading in a similar manner since the bounce from the pattern's resistance in the mid September. As a consequence we could  expect something similar (some inching up higher) in the nearest future.  Support for this is given by the Short term stochastic which points at bullishness in the nearest future. 

© Dukascopy Bank SA
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