GBP/CHF: Breakout from the Range or Another Upswing?
Updated
The GBP/CHF has been in a range for a long time, and it recently touched the lower boundary again. On a lower timeframe, a double bottom and a higher low have formed, indicating a possible trend reversal. If the descending trendline is broken, there is a high probability that the upper boundary of the range will be the target.
Range:
Double bottom:
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Range:
Double bottom:
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Happy trading!
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The price broke out of the range it has been moving in for a week, and the daily candle closed above it. Therefore, it is likely to reach the nearest resistance and continue rising.
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