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 🙂