At the end of the last year the Pound reached a zone near a 50.00% Fibonacci retracement level against the Swiss Franc. Namely, the currency exchange rate traded above the 1.3140 mark.
As a result of the encounter, the currency pair eventually rebounded against the support level and began a surge, which has resulted in the recognition of a pattern. Namely, the currency rate is surging in a wide range ascending channel pattern.
In regards to the short term, the pair is set to fluctuate between the weekly R1 and the monthly PP, which are respectively at 1.3303 and 1.3270 levels.
