H4

As it was expected, yesterday bears were active on the GBP/CHF market, as they used the weakness of the purchasers, that did not manage to overcome the resistance level of the Senkou Span B horizontal line which is the lower limit of the Ichimoku Cloud.
According to the results of a trading day the exchange rate decreased quite significantly, having broken down the support level of the short-term Indicator lines on the 4H timeframe.
Nevertheless, the situation is still controversial as the Ichimoku Cloud has a downwside character and tends to expand the sideways channel down (1, 2). But the short-term Tenkan-Sen and Kijun-Sen lines have formed the “golden cross” (5) which remains active at the moment. Evidently, the corrective restoration is not completed. Besides, the prices are located in the neutral zone, i.e. within the borders of the Tenkan-Kijun channel. If bears are able to keep the position below the Standard line, it will be possible to suggest the continuation of a downtrend.

H1
The morning activity increase on the market which resulted in the GBP/CHF pair rise has come to nothing by the end of the first trading hour. Nevertheless, this fact has slightly damaged the technical situation on the H1 timeframe. The currency pair decrease took place outside the borders of the Ischimoku Cloud but along its upper limit.
It is necessary to mention that during the trading day the short-term tendency has, therefore, changed to the bearish tendency. The Tenkan-Sen and the Kijun-Sen formed the “dead сross” (5) that remains active at the moment. Preceding lines can soon change the character of the Cloud to downside. This will finally establish the bears’ dominance on the market. It means that during today’s trading session the downtrend can be continued. Movement targets - 1.4524, 1.4500, and 1.4466.