GBP/CHF LONG/BUY🔰 Pair Name : GBP/CHF
🔰 Time Frame : 4H/ DAILY
🔰 Scale Type : MID Scale
🔰 Direction : LONG/BUY
💱 Hey traders, let's dive into GBPCH!
📊 GBPCH is currently hanging out in a critical territory within the daily order block buy zone of 1.1084 to 1.10248. Just yesterday, the price managed to secure a solid close above the daily resistance level at 1.1084. This move happened while it was nestled at the bottom of a downtrend channel. This intriguing setup has potentially formed a double bottom, suggesting a potential reversal within the confines of the downtrend channel.
📉 From a technical perspective, all signs point to a significant imbalance heading towards the 61.8% Fibonacci level. This lines up with the weekly supply zone around the 1.1135 area. Our projections have us expecting an upward movement, targeting at least the 1.115 area. This move would serve as a step towards refilling the market imbalance around the 1.135 area.
📈 Of course, as we move forward, keep in mind that the journey might entail further upward momentum beyond that initial target. Stay vigilant and let's see how this dynamic situation unfolds! Happy trading, everyone! 🚀📈 #GBPCHAnalysis #TradingOpportunities
