GBP/CHF 4H Chart: Bearish market
The British Pound has been depreciating in a channel down against the Swiss Franc after it touched the upper boundary of a dominant channel on January 22.
Meanwhile, a breakout occurred through the lower boundary of a triangle pattern as can be observed on the chart.
During the following trading sessions, the GBP/CHF pair is likely to continue its bearish path until it meet a support cluster of the weekly and monthly pivot points near the 1.2888 mark. In addition, technical indicators are all giving signal to sell the pair.
Meanwhile, a breakout occurred through the lower boundary of a triangle pattern as can be observed on the chart.
During the following trading sessions, the GBP/CHF pair is likely to continue its bearish path until it meet a support cluster of the weekly and monthly pivot points near the 1.2888 mark. In addition, technical indicators are all giving signal to sell the pair.