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GBP/CHF Potential Downward Movement

GBP/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.1550, 1.1584, 1.1626

Key Support Levels: 1.1430, 1.1356, 1.1310

Daily Chart:

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

1-Hour Chart:

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.  

Signal Idea:

Sell Stop Order @ 1.1497

TP 1 @ 1.1438

TP 2 @ 1.1320

Stop Loss @ 1.1556

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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