GBP/CHF: Will the Channel Hold?
Scott Barkley | Aug 01, 2023 09:05AM ET
The GBP/CHF pair is currently at 1.1199, following an ABC correction of its last movement. The MACD indicator has yet to signal a downward trend. If the slope support is broken, we anticipate a continuation to the ATR of 1.1100, with an overall target of 1.000 Fibo at 1.0983. This will require an upward trend in the USDX. It is important to keep an eye on the USDX for direction. The average daily true range for this pair is 83 pips per day, and its 90-day average is 71 pips per day. Currently, USDX is moving up. Please note that I have returned from vacation.
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