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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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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Related publications
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.