GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.24840, 1.25899, 1.26391.
Key Support Levels: 1.23750, 1.23056, 1.23000.
The price on the higher time frame failed to break the support level around the 1.23750 CHF mark by leaving an engulfing bullish pattern. This could lead to a reversal and a move to the upside with a new trend direction.
GBP/CHF Medium-Term Trend: Bullish
On the lower time frame, the price is traded inside a bullish channel formation showing that we are in the beginning of the new bullish impulsive wave. A lower correction could be seen to the highlighted zone before another impulsive wave in the direction of the main trend.
Buy Limit Order @ 1.23789
TP 1 @ 1.24760
TP 2 @ 1.25899
Stop Loss @ 1.23307
Trade Safely 🙂