GBP/CHF 4H Chart: Junior ascending channel prevailed

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

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

After reaching the lower boundary of a dominant channel on March 1, the Pound Sterling began to appreciate substantially against the Swiss Franc. As a result, the pair reached a four-month high.

A combination of the  55-, 100-, and the 200– hour SMAs has guided the currency pair higher after a crossed over on March 14. However, a resistance cluster set by the weekly pivot point and the 55—hour simple moving average has hindered any potential upside moves.

Everything being equal, a breakout is expected in either direction during the following trading sessions. Technical indicators suggest the breakout could occur through the lower boundary of a junior pattern in the short-term.

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