GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.2335, 1.2411, 1.2551
Key Support Levels: 1.2231, 1.2182, 1.2124
The price on the higher time frame was in a downtrend for some time until it faced rejection from the 1.2000 level. The pair reversed the direction and broke the resistance level of 1.2101 with good momentum. We expect the bullish move to continue.
GBP/CHF Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price recently broke a resistance level of 1.2124 and sustained above that. It has now broken another minor level of 1.2231 and retested before continuing the momentum.
Buy Stop Order @ 1.2264
TP 1 @ 1.2322
TP 2 @ 1.2409
Stop Loss @ 1.2206
Trade Safely 🙂