FX.co ★ Technical Analysis of Daily Price Movement of GBP/CHF Cross Currency Pairs, Thursday August 22, 2024.

If we look at the daily chart of the GBP/CHF cross currency pair, it appears that the price movement of GBP/CHF is moving harmoniously within a downward channel, which means that the Seller is quite dominant, especially with the confirmation of the appearance of hidden deviations where the GBP/CHF price movement forms a Higher-Low while the MACD Histogram indicator actually forms a Higher-High. This means that in the next few days after testing the SBR (Support Become Resistance) level at 1.1234 again, it will potentially weaken down to the level of 1.0947, but if the strengthening correction that occurs breaks above the level of 1.1291, the weakening scenario that has been described previously will be invalid and canceled by itself.

(Disclaimer)