H4
Yesterday the GBP/CHF pair headed down following the rest of the market. However, in a 4-hour graph the tendency remains positive.
Thus, the Ichimoku Cloud retained its positive character and short-term Tenkan and Kijun (3) just united into one line without forming a Dead cross. At the moment they are providing support for the price on the 1.3930 level.
Nevertheless, it is worth mentioning that the Chinkou Span is in the zone of maximum deviation from the price graph. This may result in further consolidation on current levels or even a return of the rate to the upper limit of the Cloud.
Afterwards the recovery might be resumed.
H1
In a 1-hour timeframe the Ichimoku Cloud still has a positive character as well. At the same time the bears have not been able to push the rate down below the upper limit of the Cloud since yesterday, despite the fact that the Tenkan-sen and the Kijun-sen formed a Dead Cross (5).
This means that in the nearest time we should expect the short-term correction to end and the bulls to become more active.
In case they cannot break the resistance of the Indicator short-term lines today we will see the currency pair growing.
