In today’s comprehensive GBPCHF forecast, we will first examine the current economic conditions in Switzerland. Then, we will meticulously delve into the details of the pair’s technical analysis.
- According to the rates quoted between banks for this bond’s term, the return on Switzerland’s 10-year government bond has exceeded 1.2.
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The CH20, a stock market index in Switzerland, has dropped to a 12-month low, reaching 10313.
GBPCHF Forecast – Swiss Bond Yields Surge
The GBPCHF currency pair has been downward after failing to close above the Ichimoku cloud on the weekly chart. This trend has continued, with the bears breaking down the price from last week’s range channel. Despite the Stochastic indicator being oversold for weeks, selling pressure remains strong.
A closer look at the daily chart provides more insight into the GBPCHF price action. With the Relative Strength Index (RSI) bouncing back above 30, the price is testing the broken support at 1.094. If the price stabilizes below S3, the decline will continue within the bearish channel, with 1.075 as the next target.
The bearish scenario remains valid if the pair stays within the bearish channel or below the 1.11 pivot.