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GBP/CHF Potential Upward Movement

GBP/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.2668, 1.2710, 1.2750

Key Support Levels: 1.2617, 1.2567, 1.2500

Daily Chart:

The price on the higher time frame failed to break the 1.2567 USD mark where it reversed and started to be traded higher by posting a higher low. This could lead to a further move to the upside.

GBP/CHF Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside where it is obvious that the buyers are overwhelming the sellers. A lower correction could be seen to the highlighted zone before a new impulsive wave to the upside.

Signal Idea:

Buy Limit Order @ 1.26186

TP 1 @ 1.27084

TP 2 @ 1.27500

Stop Loss @ 1.25912

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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