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GBP/CHF Potential Upward Movement

GBP/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.2771, 1.2815, 1.2830

Key Support Levels: 1.2728, 1.2701, 1.2668

Daily Chart:

The price on the daily time frame was in a downtrend before facing a strong support around the 1.2582 USD mark which led to a reversal. The pair rallied and posted a correction count toward the 50% Fibonacci retracement level. This move could lead to a move to the upside again in the same direction of the main trend.

GBP/CHF Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame the fx pair failed to break the 1.2701 USD mark and bounced to the upside by showing a bullish candlestick with a huge body. We expect further movement to the upside and the buyers could push the price all the way toward our target profit.

Signal Idea:

Buy Limit Order @ 1.2729

TP 1 @ 1.2771

TP 2 @ 1.2815

Stop Loss @ 1.2709

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.

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