GBP/CHF Potential Downward Movement

GBP/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.2081, 1.2156, 1.2218

Key Support Levels: 1.1915, 1.1813, 1.1734

Daily Chart:

The price on the higher time frame faced resistance around the 1.2421 level and was rejected. The pair has formed a few rejection wicks and lower highs are made. As of now, the price has broken the support level of 1.2107 with good momentum and sustaining below that level.

GBP/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price faced resistance from the 1.2156 level and broke the support level of 1.2081. The pair has done a retest of that level and continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.2013

TP 1 @ 1.1920

TP 2 @ 1.1827

Stop Loss @ 1.2106

Trade Safely 🙂