(1,4317) GBP/CHF failed to confirm Tuesday’s positive day reversal confirming instead a session of consolidation forming a new inside day with 1,4350 – 1,4215 the levels to follow in the coming hours/ session. The indicators of the daily chart are still well positive as well as those of the s/t ones supporting higher levels. However, a move above 1,4340 is required to confirm higher levels suggesting a retest of the 1,44 area. Having formed bullish divergences on the way down, the possible move up is corrective and a selling opportunity, especially close to the 1,44 area. We wait for a 1,4400 overshooting to sell with a stop and reverse above 1,4480. We’re looking for a return toward 1,40!! A move above 1,4480 confirmed by a daily closing will instead support higher levels completing a reversed S_H_S formation. In this case the target would be the 200 days line at 1,4795!!
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