Looking at the Weekly chart, we can see GBP/CHF trading at a very high key area around the 1.29250 zone, so we expect at least a rejection from this area.
What's interesting is that if you look at the 2H chart, you can see that we reached this area with a rising wedge so our first target will be the bottom of the rising wedge.
Also, although I don't use indicators and I don't like them, but this divergence on the RSI caught my attention as it confirms more the scenario we are talking about.
What's interesting is that if you look at the 2H chart, you can see that we reached this area with a rising wedge so our first target will be the bottom of the rising wedge.
Also, although I don't use indicators and I don't like them, but this divergence on the RSI caught my attention as it confirms more the scenario we are talking about.
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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.