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GBP/CHF Potential Upside Movement

Key Resistance Levels: 1.2463, 1.2548, 1.2677

Key Support Levels: 1.2295, 1.2195, 1.2035

GBP/CHF Price Long-Term: Bullish

Daily Chart:

The pair is in a clear uptrend by posting higher highs and lows by breaking all the daily resistances. In addition, the price is trading within an ascending channel which shows that the momentum is positive.

GBP/CHF Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hour time frame, the pair was in an upward movement, then entered a flag formation. This pattern pushed the price towards the 1.2295 daily support which confluence with the 61.8% Fibonacci retracement. Now, most probably the price will continue its upward movement towards the 1.2463 mark.

Signal Idea:

Buy Order @ 1.2385

TP 1 @ 1.2463

TP 2 @ 1.2548

Stop Loss @ 1.2347

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

One comment

  1. My name is Prince, from South Africa. I joined your telelgram channel last week . I was able to make some good profits from the signals you provided for Thursday for the EURCAD pair. Thank you so much for being so generous. God bless you.

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