Bearish: GBP/CHF currently at 1.1379in a range and a breakout of the up move. We are looking for a continuation to the 0.500 Fibo at 1.1314 area with a further target for the ATR @ 1.1215.
We have divergence in play. Watch the USDX for directions. The average daily true range (ATR) for the pair is 79 pips, and its 180-day average is 97 pips per day. USDX is currently UP.
