FxNews – The Pound Sterling is in an uptrend against the Swiss Franc. The British currency pulled back from the lower band of the bullish flag, as shown in the GBPCHF 4-hour chart below. Interestingly, the pair has formed a doji candlestick pattern close to the 1.13 support, which interprets that the uptrend might resume from this mark.
The doji candlestick pattern is highlighted in yellow in the image above.
GBPCHF Technical Analysis
We zoomed into the 4-hour chart to analyze the GBPCHF price action and technical indicators, find key levels, and forecast the next price movement.
As of writing, the pair trades at about 1.136, above the 1.135 weekly pivot. Interestingly, the awesome oscillator signals divergence, and it is about to flip above the zero line. Concurrently, the relative strength index floats above the median line, promising a bullish trend.
However, the Pound Sterling has the EMA 50 barrier at the 1.138 mark, which might halt the value from surging higher in the short term.
GBPCHF Forecast – Bulls Eye EMA 50 for Uptrend
From a technical perspective, the primary trend is bullish. But, for the uptrend to continue, the bulls must close and stabilize the GBPCHF price above the 1.138 resistance, which %38.2 Fibonacci powers. If this scenario comes into play, the uptick momentum that began this week from 1.13 will likely target the 1.143 mark (%23.6 Fibonacci).
Traders and investors should monitor the price behavior and candlestick pattern if the price reaches EMA 50. This is the key pivotal point for the GBPCHF currency pair.
The Bearish Scenario
Despite the strong uptrend that began in late December 2025 from 1.06, the pair has been showing corrections since March 21. That said, the consolidation phase that started from 1.06 and 1.15 could dip the price to the 1.124 support area if the price remains below EMA 50. For this scenario, the bears must close and stabilize the price below the 1.13 mark.