GBP/CHF forms descending triangle pattern, break below 1.29500 confirms further weakness

• Chart pattern- Descending triangle pattern.
   
• Major support – 1.2950
   
• GBP/CHF has recovered slightly after forming a bottom at 1.29528 on Sep 25th 2017. The pair jumped till 1.3108 and is currently trading around 1.29960.
   
• The pair should break below 1.2950 for bearish continuation and any break below will drag the pair to next level till 1.2900/ 1.2820 (38.2% fibo).
   
• On the higher side, near term resistance is around 1.3000 and any break above will take the pair to next level till 1.3030 (55- H EMA)/1.3055 (233- H MA).

It is good to sell below 1.2950 with SL around 1.3000 for the TP of 1.2825.