GBP/CHF Price Analysis: Bears putting up a fight as bulls target fresh highs


  • GBP/CHF on the move in a battle between the bulls and the bears. 
  • The cross is in a phase of consolidation and a choppy sideways formation.

GBP/CHF is in the hands of the bulls but the bears are putting up strong resistance.

The following is an analysis of the hourly and 15-min chart's market structure and bullish and bearish scenarios. 

GBP/CHF hourly chart

The hourly chart is offering a bullish prospect from which bulls could be looking to engage from support and target a higher high for the closing sessions of the week. 

GBP/CHF 15-min chart

The reverse head and shoulders on the 15-min time frame is a bullish chart pattern which adds further conviction to the upside bias. 

However, the retest is proving to be uncomfortably deep, so a break of the RHS's lows will likely equate to a retest of the lows of the correction in a sideward consolidation. 

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