FX.co ★ Technical Analysis of Intraday Price Movement of GBP/CHF Cross Currency Pairs, Tuesday October 08, 2024.

Although currently on the 4-hour chart the GBP/CHF cross currency pair appears to be under quite a bit of pressure from Sellers, which is confirmed by the appearance of a Bearish 123 pattern followed by several Bearish Ross Hook (RH) and its price movement is below the SMA 20 (Middle Bollinger Band), but with the appearance of the Ascending Broadening Wedge pattern and the deviation between the GBP/CHF price movement and the MACD Histogram indicator, it gives an indication that in the near future there is a potential turning point for GBP/CHF to strengthen again as long as it does not break below the 1.1118 level, then GBP/CHF has the potential to strengthen upwards to the 1.1274 level as its main target and if momentum and volatility support it, 1.1366 will be the next target to be targeted.

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