{"id":11545,"date":"2010-07-29T09:35:47","date_gmt":"2010-07-29T13:35:47","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=11545"},"modified":"2010-07-29T09:35:47","modified_gmt":"2010-07-29T13:35:47","slug":"gbpchf-heading-for-downward-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/07\/29\/gbpchf-heading-for-downward-correction\/","title":{"rendered":"GBP\/CHF Heading for Downward Correction"},"content":{"rendered":"<p><strong>By Natalie R.<\/strong> &#8211; After a long and steep rise of the GBP, the CHF might be seeing some much needed correction versus the pound.<\/p>\n<p>Looking at the daily chart for the pair one can see several indicators pointing to an impending downward correction<\/p>\n<p>1.\u00a0A breach of the upper Bollinger Band is evident on the chart as  well as a beginning of a downward correction still above the band,  indicating the trend is likely to continue.<br \/>\n2.\u00a0A bearish cross is evident on the chart\u2019s Slow Stochastic pointing to  an overbought pair. The Pound has strengthened considerably over the  past month and it might be time to take profits and re-evaluate the  future direction of the pair.<br \/>\n3.\u00a0The RSI for the pair is floating in the overbought territory,  indicating an imminent downward move. It is possible to see this pair  getting back to around 1.6400 or even 1.6350.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/gbpchf1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/07\/gbpchf1.JPG\" alt=\"\" width=\"595\" height=\"611\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><span style=\"text-decoration: underline;\"> Forex                               Yard.<\/span><\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                     may not be suitable for all   investors.       There    is  a              possibility      that       you   could       sustain a  loss   of  all   of    your           investment and            therefore  you        should   not    invest     money  that   you            cannot afford to         lose. You      should    be      aware of     all       the    risks      associated   with     Foreign       Exchange        trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Natalie R. &#8211; After a long and steep rise of the GBP, the CHF might be seeing some much needed correction versus the pound. Looking at the daily chart for the pair one can see several indicators pointing to an impending downward correction 1.\u00a0A breach of the upper Bollinger Band is evident on the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/07\/29\/gbpchf-heading-for-downward-correction\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GBP\/CHF Heading for Downward Correction&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11545","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=11545"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/11545\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=11545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=11545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=11545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}