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GBP/CHF Potential Downward Movement

GBP/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.1188, 1.1250, 1.1311

Key Support Levels: 1.1069, 1.0989, 1.0932

Daily Chart:

The price on the higher time frame has been in a downtrend for a few months and it broke a support level if 1.1529 with good momentum. The pair then found a minor support at the 1.1291 and that level has also been broken. It has sustained below that which shows trend continuation.

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 has recently broken the lower range of a consolidation zone of 1.1311 and 1.1250. It has also broken and retested another minor level of 1.1188 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 1.1136

TP 1 @ 1.1076

TP 2 @ 1.0956

Stop Loss @ 1.1196

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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