GBPCHF has been exploring lower prices of late having finally mustered up the strength to break below 1.26. Price then gyrated between the psychological barriers at 1.26 and 1.2530, ultimately culminating in a break higher to Resistance . This Resistance , which has rejected the prices since January, has held up yet again. Price revisited 1.26 on a bounce from support, but has since retreated lower. Continued weakness off the back of Friday`s session could see yet another test of the aforementioned Resistance. Any near-term reversal may need to see a quick break of 1.25 for momentum to be Pressured downside.
GBP/CHF is currently bearish at the time of this post. We are currently at 1.2485. We have convergence in play on the hourly compressions.
We are looking for an initial move to the ATR target at the 1.24000 area with a further target of the FE at 1.22730
GBP/CHF is currently bearish at the time of this post. We are currently at 1.2485. We have convergence in play on the hourly compressions.
We are looking for an initial move to the ATR target at the 1.24000 area with a further target of the FE at 1.22730
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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.