GBP/CHF (Wide View): More Pain for the Pound

Rejection at cluster resistance near 1.55 in July 2012 installed the head of a potential H&S top on GBP/CHF. With a mildly downsloping neckline cutting across 1.37-1.38 for the remainder of 2013, a break below targets 1.25, near the cyclical low established in mid-2011.