Wednesday, October 23, 2019
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Technical Analysis – GBP/CHF looks overbought

GBP/CHF looks overbought after a steep rally. GBP/CHF staged an impressive rally on Thursday, recouping most of the losses recorded since mid-September and rising well above its simple moving averages (SMA) and the Ichimoku cloud on the four-hour chart. The forceful upside correction, however, looks fragile as the fast-stochastics and the RSI signal overbought conditions, indicating

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Technical Analysis – GBP/CHF bears keep pushing in the oversold area

GBP/CHF bears are keeping control of the pair for the sixth consecutive week, driving it down by more than 6.0% since the peak at 1.3398 and near an almost five-month low of 1.2539. Specifically, the price is far below its simple moving averages (SMA) at the moment, suggesting that the downward pattern may not be easy to reverse

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