Daily Forex Update: GBP/CHF

The GBP/CHF has stalled at the top of Tuesday's intraday range, with the current ceiling at 1.6547. The uptrend has established itself across the 15-, 30-, 60- and 240-minute and daily charts with little-to-no correction lower, as the rally began off a double-bottom formation from the lows at 1.5833 and 1.5854. If the current congestion is an indication of the bulls exhausting, then the upper trend line of the Channel Up pattern on the 60-minute time frame should keep the GBP/CHF below the range from 1.6595 (A) to 1.6600.