GBP/CHF Potential Downward Movement

GBP/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.10761, 1.11866, 1.13046

Key Support Levels: 1.10086, 1.09545, 1.08685

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 1.14856 level and reversed. The pair has continued to break a few support levels with good bearish momentum which suggests further trend continuation.. 

GBP/CHF Medium-Term Trend: Bearish

4-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke the lower level of a consolidation zone between 1.11866 and 1.10761 and has been trading below that. As of now the pair has retested that area and continuing the momentum.

Signal Idea:

Sell Limit Order @ 1.10528

TP @ 1.10126

Stop Loss @ 1.10930

Trade Safely 🙂