For now, a confirmed move below the 1.34100, could pull the pair down towards the bottom side of the upwards moving channel for a quick test. This level could be around the 1.33650 area. However, as we already noted, as long as the pair stays within the channel, we would treat such a slide as a corrective move.
If the bulls manage to take the reins from near the lower end of the channel, then we may see a rebound and a test at the 1.3410 barrier as a resistance this time. A break above that level could aim for the recent highs of 1.34350. Another move above 1.3435 could open the path for the next potential level higher at 1.34575.
Judging the situation by our oscillators, we can see that both and are at their tops and flattening out, which supports that GBP/CHF could be ready for a bit of a pull back.
On the downside, a break below the aforementioned channel is needed to indicate upcoming weakness in GBP/CHF , we think.