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GBP/CHF Potential Upward Movement

GBP/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.27098, 1.27938, 1.28176.

Key Support Levels: 1.26329, 1.25510, 1.24901.

Daily Chart:

The price on the higher time frame is traded inside a bullish channel formation where it succeeded to break the daily resistance around the 1.26329 CHF mark. A correction has been posted and we expect further movement to the upside in the same direction of the main trend.

GBP/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, posted huge bullish candlestick with a long candlestick to the downside which shows that the buyers are in control. A slight lower correction could be seen to the highlighted zone before a new impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 1.26654

TP 1 @ 1.27086

TP 2 @ 1.27938

Stop Loss @ 1.26483

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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