GBP/CHF Long-Term Trend: Bearish
Key Resistance Levels: 1.1550, 1.1584, 1.1626
Key Support Levels: 1.1430, 1.1356, 1.1310
The price on the higher time frame was consolidating in a range of 1.2411 and 1.2109 for some time and then the lower range was broken with good momentum. The pair made a small trading zone and has broken the lower range again which indicates a bearish bias.
GBP/CHF Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price traded in a range of 1.1626 and 1.1584 for some and now the lower range is broken. It has also broken and retested a minor level of 1.1550 before continuing the momentum.
Sell Stop Order @ 1.1497
TP 1 @ 1.1438
TP 2 @ 1.1320
Stop Loss @ 1.1556
Trade Safely 🙂