GBP/CHF Long-Term Trend: Bearish
Key Resistance Levels: 1.2580, 1.2820, 1.2987
Key Support Levels: 1.2458, 1.2380, 1.2200
The price on the higher time frame succeeded to break the parallel channel to the downside by posting a huge bearish candlestick showing that the sellers took control and are overwhelming the buyers which could lead to a further downside movement.
GBP/CHF Medium-Term Trend: Bearish
On the lower time frame, the pair is extending lower of the bearish flag formation. It posted a correction count toward the lower end of this formation which could lead to a movement again to the downside toward the target profit.
Sell Limit Order @ 1.2543
TP 1 @ 1.2461
TP 2 @ 1.2380
Stop Loss @ 1.2571
Trade Safely 🙂