GBP/CHF is continuing the long-term downtrend inside the clearly formed Down Channel chart pattern identified by Autochartist on the daily charts. The Clarity of this chart pattern is rated at the 7 bar level. The low Initial Trend value (1 bar) corresponds to the sideways price action that developed as the price approached strong support level at 1.5400 (now acting as resistance after it has been broken by the pair). This Down Channel continues the prevailing down-trend visible on the daily and the weekly charts. The first connecting points for the lower and the upper trend lines of this chart pattern form the starting and the ending points for the ABC correction that wjavascript:;as completed with the first sharp impulse of this chart pattern. The price has just reversed down from the combined resistance level made out the 61,8 % Fibonacci Retracement of this down impulse and the round price level 1.5400, mentioned above. The pair is expected to continue falling in the nearest future.

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As can be seen from the PowerStats chart below, all of the daily Expected Price Range for GBP/CHF for tomorrow lies well below the upper resistance line of this Down Channel - which further strengthens the bearish outlook for this currency pair.

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