GBP/CHF continues to rise after the recent reversal from the lower support trendline of the daily Down Channel that was previously identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. GBP/CHF is expected to break this Down Channel and then to rise to the target level 1.4977 in the next 8 trading days. Autochartist set the stop-level for this forecast at 1.4488. This point formed recently when the pair reversed up from the combined support zone lying between the support level 1.4500, the support trendline of the daily up channel from last February and 61.8% Fibonacci Correction of the preceding upward impulse from last June.
The following daily GBP/CHF chart shows the aforementioned support levels: