GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.23334, 1.23849, 1.24000.
Key Support Levels: 1.22684, 1.22303, 1.21978.
The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern in a form of a higher low. A reversal occurred and a series of lower highs and lows has been posted where further movement to the upside could be seen.
GBP/CHF Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a higher low formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.
Buy Market Order @ 1.22818
Target Profit 1 @ 1.23334
Target Profit 2 @ 1.23849
Stop Loss @ 1.22303
Trade Safely 🙂