GBP/CHF Long-Term Trend: Bearish
Key Resistance Levels: 1.2743, 1.2795, 1.2965
Key Support Levels: 1.2645, 1.2576, 1.2460
The price on the higher time frame managed to break the bullish channel formation to the downside. It posted a correction to the upside and now a new move downward is expected in the coming days.
GBP/CHF Medium-Term Trend: Bearish
On the 4-hr time frame, the price is trading inside a bearish channel where the pair is expected to move upward toward an area of confluence which is made by a resistance, higher end of the channel and the 50% Fibonacci retracement level. This correction could lead to a move downward again in the same direction of the main trend.
Sell Limit Order @ 1.2739
TP 1 @ 1.2665
TP 2 @ 1.2645
Stop Loss @ 1.2776
Trade Safely 🙂
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