FX.co ★ GBP/CHF Ichimoku technical analysis for June 15, 2011

H4

On the GBP/CHF market the bulls turned out to be stronger and broke the resistance of the Kijun-sen and the Senkou Span A inside the Ichinoku cloud.
The positive sentiment on the market allowed to recover the rate to the expected level 1.3840. However, then a correction began. Moreover, the Tenkan –sen and the Kijun-sen are directed sideways yet (3), which indicates possible continuation of the sideways movement.
Nevertheless, the Chinkou Span approached the local highs from the upside. Therefore, the growth will probably be resumed after the correction phase ends.

H1

In 1-hour graphs, as expected, the price broke into the positive area having broken up the horizontal Senkou Span B. As a result, after forming a pattern the GBP/CHF began to advance.
The price passed the 1.3760 level and went further to 1.3840 (recent limit of the cloud).
In the nearest time the uptrend is likely to be resumed as all indicator lines confirm that there are buyers on the market. The Ichimoku Cloud is still diverging to the upside (1), and the Tenkan-sen and the Kijun-sen are keeping the Gold cross (5).