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🇬🇧🇨🇭
Zooming out on the chart, GBP/CHF has clearly rebounded from a major support level around 1.0700, a zone that has historically held firm. Zooming in, we observe a well-defined bottom formation, which has now been broken decisively to the upside.
📈 This breakout signals a potential trend reversal, supported by strong bullish momentum and a successful retest of the breakout zone.
🔹 Upside Targets:
• 1.10630
• 1.12780
🛑 Stop-loss: Below 1.07900, to guard against false breakouts or sudden reversals.
This setup aligns with recent technical insights showing a double bottom and higher low structure, which often precedes sustained bullish runs A. Traders should monitor volume and candle strength for confirmation.
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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.