GBPCHF: Potential Reversal from Resistance Zone
The market is currently approaching a significant resistance zone, highlighted by multiple previous rejections. The current structure suggests a potential bounce from this area, followed by a move lower. This zone has proven to be a strong barrier in the past, and the overall market context supports a bearish scenario. My target for this setup is around 1.12785. However, I will remain cautious and monitor for any changes in volume or structure that could invalidate this idea.
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.