GBP/CHF Long-Term Trend: Bullish
Key Resistance Levels: 1.25170, 1.25280, 1.25529.
Key Support Levels: 1.24181, 1.24473, 1.24379.
The price on the higher time frame succeeded to break the bearish trendline to the upside after a double bottom formation under the strong support level. This gave the power to the buyers to reverse the market and push it all the way up.
GBP/CHF Medium-Term Trend: Bullish
5-Mins Time Frame:
On the lower time frame, the price retraced to the 50% Fibonacci retracement level where it found additional buyers. A move to the upside in expected in a new bullish impulsive wave especially that we have started to see higher highs and lows.
Buy Limit Order @ 1.24843
TP 1 @ 1.25151
TP 2 @ 1.25280
Stop Loss @ 1.24689
Trade Safely 🙂