GBP/CHF: Descending Channel?

Currently we are 1.2625 on our target from yesterday. If we break this support, we are looking for a continuation to the double bottom at 1.2500. A fast move would stall at the 1.2574 area. The average daily true range (ATR) for the pair currently is 126 pips.

GBP/CHF 240 Minute Chart