GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.24207, 1.25080, 1.26298.
Key Support Levels: 1.23467, 1.22807, 1.22213.
Daily Time Frame:
The price on the higher time frame posted a double bottom formation near a strong support level at 1.21951 CHF mark which led to a reversal and a move upward and a breakout of the descending channel. The market managed as well to break a strong resistance around the 1.23467 CHF mark which could lead to a further movement to the upside.
GBP/CHF Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price succeeded to break the consolidation phase with the help of a series of higher lows. A lower correction could be seen to the highlighted zone to grab back liquidity and this will lead to a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 1.23535
TP 1 @ 1.24155
TP 2 @ 1.25080
Stop Loss @ 1.23266
Trade Safely 🙂