Gbp/Chf

Although the single currency tumbled to record low of 1.1470, as the currency pair staged a strong rebound from there to 1.3032, suggesting a temporary low has been formed there

On the upside, whilst recovery to 1.2800 is likely, upside should be limited to 1.3000 and bring another decline later.

The GBP/CHF has maintained a well defined descending channel formation since the start of April as haven flows continued to support the franc.

With the cross following through higher on its hammer candle pattern the past week, further corrective recovery offensive is likely in the new week

In this pair, stretching the Fibonacci from the break-down level at 1.24 to the bottom at 1.14, shows that a the correction might hit 1.19-1.20

herefore, this correction was more aggressive. Friday was closed on the support of 1.29, and a break-up can slide to 1.25 and below. However, if the GBP crosses above 1.2 it will be a positive signal for it and a negative for the Swiss currency.

The GBP/CHF has maintained a well defined descending channel formation since the start of April as haven flows continued to support the franc

as we can see from the chart , the pair has stated it's trading week under the level of 1.3000 and that's mean that the down trend is expected for this week and the pair might head to 1.2940 and then 1.2900

If a M15 close above 1.2980 buy only and do not sell. If price closes back below it again do nothing.

If a M15 close below 1.2880 sell only and do not buy. If price closes back above it again do nothing

The range 1.2980 and 1.2880 is neutral area, any trade done in between is personal decision and not part of this analysis

Once the scalp is active the levels will remain in play until such time when either of the topside/bottom limit targets are compromised.