USDCHF is trading in a bearish trend. the price is steadily falling within a channel.
on 4H the price is currently contracting with a descending triangle formation. it is the classic consolidation pattern and the side of its breakout will show us the midterm direction of the pair.
in case of a bullish violation of the resistance line of the triangle, goal for buyers will be the resistance of the above-mentioned channel. from that point, a bearish reaction will most likely follow.
in case of a bearish violation of the support line of the triangle, goal for sellers will be 0.903 level based on a current 4h structure low.
I am bearish biased due to a daily bearish trend, but let's see what's gonna happen.