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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 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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