Bearish
GBP/CHF is currently at 1.2163, trading in a channel after making its turn south. We are looking for an initial move to the Day chart support at the 1.2119 area, and then the ATR Target at 1.2064.
Watch the USDX for any change in direction. The ATR for the pair currently is 84 pips per day and its 180 day average is 79 pips per day. USDX is currently threatening to move down at the time of this post.
