During the past few weeks, the British Pound has been depreciating heavily against the Swiss Franc. The depreciation occurred after the pair hit the weekly R1 at 1.3439.
The Pound Sterling has stopped its decline and has been in a period of consolidation. As can be observed on the chart, the currency pair has been trading inside a rectangle since February 9.
A breakout from the rectangle is expected to occur to either direction in the nearest time. In the meantime, technical indicators suggest that bears could grow stronger.
