GBPCHF - Potential Buy Setup at Key Support Level
GBPCHF is currently approaching the lower boundary of the ascending channel, aligning with a key support zone where buyers may step in.This area has previously acted as a strong support level, suggesting that if the price confirms a bullish rejection, we could see a move higher toward the 1.13750 level, which represents a logical target for this setup. However, a break below this trendline would invalidate the bullish outlook and could lead to further downside.
This setup reflects a potential bounce from channel support, in line with the prevailing uptrend.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments! 🚀
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.