GBP/CHF 1H Chart: Channel Down

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

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

The British Pound is losing value against the Swiss Franc in a vertical descending channel that has formed in the result of a rebound of the currency exchange rate from the upper trend-line of a preceding ascending channel. At the moment, formation of the channel is completed, as it consists of four confirmation points. Hence, if the pair manages to reach the monthly S1 at 1.2440 and the weekly S3 at 1.2429, after bouncing off from a combination of the pattern's resistance line and the 55-hour SMA, an impulse given from this support level might be strong enough to force the rate to eventually leave the formation in the northern direction. However, even if this scenario materializes, the Sterling is still expected to continue to depreciate at least until the announcement of information on the UK CPI, Average Earnings and Retail Sales.

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