Latest Pound-Franc Forecast: Current Bounce Likely to be Short-Lived

Studies of the GBP/CHF charts indicate the downtrend remains dominant and intact despite the pair reaching key historic lows, and this suggests a bearish bias over the short-term.

EUR/CHF has tumbled to a new 2019 lows of 1.1073 at the last reading, and it is at risk of going lower, say analysts at ING Bank N.V.

GBP/CHF is already 0.80% down since the start of the week, but studies of the charts indicate the pair is trading on a major historic floor, and this could provide some welcome relief.

The Pound-to-Franc exchange rate is trading at around 1.2383 at the time of writing and has entered its tenth down week in a row. Studies of the charts indicate the pair is finding support on a major floor and its sideways trend will probably prolong over the next few days.