GBP/CHF 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Another channel was formed by GBP/CHF in the beginning of August and it seems the pattern will last for at least the next couple of weeks. During the last couple days the pair was hovering around pattern's resistance, making several attempts to break out from pattern's boundaries. However, after refraining from tapering, the pair moved to 1.46 and in case the tendency persists, the first major support is located a 1.4581– Fibonacci retracement and strong daily support, while just slightly above 1.45 traders can find 200-bar SMA. Nevertheless, the Pound is expected to continue strengthening against the Swiss Franc, as technical indicators on a daily chart are sending "buy" signal.
© Dukascopy Bank SA
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Fri, 20 Sep 2013 06:36:19 GMT

GBP/CAD 4H Chart: Channel Up

Having touched a two-month low of 1.5579 on July 31, the pair started an accelerating increase, climbing to the highest level since February 2010 of 1.6508 on August 23. After hitting this high, GBP/CAD retreated slightly to approach the lower-limit of the pattern but the weakness appeared short-lived, as a bounce from lower pattern's boundary prompted a rally that pushed

Thu, 19 Sep 2013 13:16:41 GMT

USD/JPY 1H Chart: Channel Down

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