GBPCHF ready to break its long period of consolidation

Price has consistently bounced between 1.12411 and 1.10891 for almost a month now with particular focus 1.11671. Price wise, I see no bias in the direction as it remains pretty steady during its consolidation period, almost slowing down. It has been supported by both an upward and downward trend line, now with very little movement. Leading me to suspect an impending big movement in the market. GBPNZD has had a very weak bias over the years to a general downtrend, and the current consolidation phase preceded a rapidly falling price.

Momentum is positive and upward facing. Stochastic is overbought, above 50 and upwards, but %k is under %d - so not fully showing signs of confirmation. It’s definitely pointing towards a bullish move but whether or not it’s strong enough to break the support rather than bounce back this time, only time will tell.

I will continue to look for signs of a market direction preference.