GBPCHF approaching resistance, potential drop!
GBPCHF is approaching our first resistance at 1.2954 (Horizontal pullback resistance, 23.6% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2819 (100% fibonacci extension).
RSI (89) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
RSI (89) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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.