GBP/CHF 4H Chart: Symmetrical triangle pattern in sight

Since the end of September, the GBP/CHF currency pair has been trading sideways within a symmetrical triangle pattern.  

It is likely that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 1.1830 area. Thus, the rate could breach the given pattern north in the nearest future and target the Fibo 38.20% at 1.2181. 

On the other hand, the currency pair could face the resistance level—the monthly PP at 1.1910. Therefore, the pair could breach the predetermined pattern south and target the psychological level at 1.1600.

GBPCHF

GBP/NZD 4H Chart: Two scenarios likely

Since the end of September, the GBP/NZD exchange rate has been trading upward within an ascending channel.  

From a theoretical perspective, it is likely that the currency pair could continue to trade upwards within the predetermined channel in the medium term. In this case the pair could reach the Fibo 38.20% at 1.9891 by the end of November. 

In the meantime, note that the exchange rate is pressured by the 55– and 100-period moving averages near 1.9580. Thus, a breakout south could occur, and the rate could target the Fibo 61.80% at 1.9218.

GBPNZD

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD skyrockets to 1.2150 on poor US jobs figures

EUR/USD has hit a new multi-month peak above 1.2150 after the US reported an increase of only 266,000 jobs in April against nearly one million expected. The dollar is under immense pressure. 

EUR/USD News

GBP/USD soars toward 1.40 after disappointing Nonfarm Payrolls

GBP/USD has been extending its gains after the US Nonfarm Payrolls badly disappointed with an increase of only 266,000 jobs in April, nearing 1.40. Earlier, sterling benefited from the UK Conservative Party's gains in local elections. 

GBP/USD News

XAU/USD soars above $1,835 after weak Nonfarm Payrolls

Gold has leaped above $1,835 after the US reported an increase of only 266K jobs in April, far below expectations. Lower US yields support the precious metal.

Gold News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Ripple's victory granted the firm access to the SEC's documents on the three leading cryptocurrencies. The regulatory agency recently denied the possession of these documents.

More Dogecoin News

S&P 500 and Nasdaq: Can the Fed pump anymore after weak jobs report

Well, that was an interesting jobs report. Not too many people were forecasting that one. Just in case you missed it NFP were forecast to come in around the 1 million jobs gained but instead the US only added 266k.

Read more

Majors

Cryptocurrencies

Signatures