By: Dima Chernovolov
GBP/CHF continues to rise inside the clear daily Up Channel chart pattern which was recently identified by Autochartist. Autochartist rates the quality of this Up Channel at the 4-bar level – which is the result of the slow Initial Trend (3 bars), below-average Uniformity (3 bars) and medium Clarity (5 bars). GBP/CHF is expected to rise further inside this Up Channel – which is also confirmed by the PoweStats analysis shown below.
As can be seen from the PoweStats analysis chart below, all of the daily Expected Price Range calculated by Autochartist for this currency pair (from 1.3175 to 1.3307) stands above the lower support trendline of aforementioned Up Channel – which increases the probability GBP/CHF will today continue to rise inside this chart pattern.
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