H4
Last Friday the GBP/CHF recovered to the 4-hour Rotation line. Moreover, the bulls even tried to break higher through the Kijun-sen (4). However, they did not have enough power for this and two Hanging man models appeared at the candlestick graph at the same time. The Chinkou Span that had approached recent lows from the downside stopped at this level as well.
Today the British currency was sold against the franc again and the price appeared below the Tenkan-sen and the Kijun-sen. Obviously, the downtrend will remain as the Senkou Span A (1) and the Kijun-sen (4) started to decline after a slight consolidation.
H1
Friday’s recovery only lasted up to the lower limit of the Cloud in 1-hour timeframe. Here the growth had been suppressed by the Senkou Span A that pushed the price down this morning.
However, the bulls made another unsuccessful attempt to bright the rate up. This time they faced the Tenkan-sen and the Kijun-sen that were horizontal at that moment (3).
The short-term sideways movement remains on the market – all lines of the Ichimoku Indicator are directed sideways (1, 2, 3). However, as soon as the Chinkou Span appears below the price graph we will be able to consider selling.