GBP/CHF

GBP is gaining strength against major currencies. This is a bullish chart pattern that has been forming over the past year on GBP/CHF. Cross rate tested 1.48 levels for three times over the past year and a break above this resistance could send the cross rate towards 1.51-1.52 area resulting in further GBP strength. Chart pattern can be classified as a double bottom or cup with handle . In both cases a breakout on the upside will generate a bullish signal for GBP in the short/medium-term.