GBPCHF has broken out of the upward channel, indicating a potential shift in the trend. Notably, the price has also broken the key level of 1.14000, which had held the price above for two months. Furthermore, a reversal pattern known as a head and shoulders formation has emerged, and the price has recently broken through its neckline, providing bearish confirmation. Given the fake breakout on the daily timeframe, I anticipate an impulsive decline may be imminent. I expect the price to retest the resistance zone follwed a bearish move. My goal is to support level around 1.11210Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
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🌎WebSite: lingrid.org
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💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.