The GBP/CHF currency pair trades in a large 3-year A-B-C consolidation pattern after a 3-year decline.  Volatility continues to contract as we inch closer to a breakout

Level     Type            Significance
2.3332   Resistance     76.4% of 2.3911-2.1469
2.3051   Resistance     2/28 high
2.2976   Resistance     61.8% of 2.3911-2.1469
2.2900   Resistance     3/24 high
2.2552   Support         4/28 low
2.2449   Support         4/5 low
2.2386   Support         50% of 2.1473-2.3299
2.2174   Support         61.8% of 2.1473-2.3299

Chart I

Chart II
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Chart III
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Chart IV
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Jamie Saettele is a Technical Currency Analyst for FXCM.