Gbp/Chf

price has retreated from yesterday’s high of 1.3536 and pullback to 1.3200 is likely, renewed buying interest should emerge around 1.3000 and bring another rise later

If a M15 close above 1.3400 buy only and do not sell. If price closes back below it again do nothing.

If a M15 close below 1.3300 sell only and do not buy. If price closes back above it again do nothing

The range 1.3400 and 1.3300 is neutral area, any trade done in between is personal decision and not part of this analysis

A failed attempt to breach above the 38.2% Fibonacci extension at 1.3190 today supports this view and accordingly our bias on the pair remains weighted to the downside.

the pair and as we can see from the chart has closed it's daily candle under the level of 1.2900 , so , that's mean the down trend is still standing and the pair is heading to 1.2800 then 1.2700

A cap is likely to occur and turn the cross back down here if tested. All in all, with a resumption of its long term downtrend seen, more weakness is expected in the days ahead.

The British pound has risen again after brief pullback, suggesting the reversal from 1.1470 record low may bring a stronger retracement of major downtrend in wave iv.

The sterling has been two-face as it was the mover last week with it’s strength. This week it stood out with bearish bias as other currencies ranged.

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

Bears remain in control with next objectives now at 1.2490 and 1.2445. Attempts to rally face resistance in 1.2885/1.2905 area. Above offers scope for stronger bounce to key 1.3030/1.3130 zone.

As expected, the 4-hour Rotation line did not let positive players go up and the correction on the GBP/CHF market did not succeed. Instead the bears took the initiative and formed a new all-time high by declining the price to the 1.3260 level.