Chart of the Week
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GBP/CHF
Fri, Feb 15 2008, 14:21 GMT
by Tatsuya Kawanishi
FXstreet.com
GBP/CHF 60 minutes-chart shows a nice downtrend channel with a 500 pips- range. After hitting at the week high at 2.1844, the pair got into back to the channel and shows a bearish momentum. RSI shows a oversold condition, and MACD is negative and declining sharply. The center red line ( support line ) seems to be broken. If further downward momentum emerges, the projected line of the downtrend channel ( third line : the 2.1200 region ) would be a traget.
3 Moving Averages of 13, 21 and 51 EMA are drawn in red, blue and black respectively.

Published on
Fri, Feb 15 2008, 14:30 GMT
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