GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.2862, 1.2894, 1.2900
Key Support Levels: 1.2798, 1.2725, 1.2691
The price on the higher time frame succeeded to break the parallel channel to the upside by posting a bullish candlestick with a big body showing that the bulls are in control. Usually, when a range channel is violated a big move is expected after it.
On the 1- hour chart the pair broke the smaller range to the upside by posting also a bullish candlestick with a big body. A lower correction is expected to the higher end of the channel before a new impulse in the same direction of the main trend.
Buy Limit Order @ 1.2818
TP 1 @ 1.2861
TP 2 @ 1.2894
Stop Loss @ 1.2802
Trade Safely 🙂