(1,4677) GBP/CHF failed to extend further the move up forming instead a negative outside day with now 1,4800 – 1,4650 the levels to follow in the coming hours. A closing below 1,4650 will support a deeper correction. The decline confirmed also a break below the s/t support line suggesting lower levels. The indicators of the daily chart are still well positive but still overbought while showing potential negative reversals. The indicators of the s/t charts turned instead all below the line supporting further consolidation/ correction. The decline is already showing potential positive reversals in the hourly chart. However, while below the 200 hours line, now resistance at 1,4766 we have to expect further downside risk suggesting a 1,46 undershooting. We stay on the sideline while waiting for lower levels to buy!
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