GBP/CHF Potential Downward Movement

GBP/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.11722, 1.12379, 1.13329

Key Support Levels: 1.11381, 1.11056, 1.10765

4-Hour Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 1.13847 level and reversed back. The pair has continued to break a few support levels which suggests further trend continuation.

GBP/CHF Medium-Term Trend: Bearish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.13329 and 1.12379 and has sustained below that. As of now the pair has broken and retested a minor level of 1.11722 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.11577

TP @ 1.11397

Stop Loss @ 1.11757

Trade Safely 🙂