GBPCHF Rising Wedge bearish breakout The GBP/CHF currency pair is currently exhibiting a bearish sentiment, aligned with the broader downtrend. Recent price action shows the market is in a sideways consolidation phase, indicating a potential pause before the next directional move.
Key Trading Level: 1.1230
This level marks a prior intraday consolidation zone and serves as a critical resistance area within the current trend context.
Bearish Scenario (on rejection from 1.1230):
A failed test of 1.1230 resistance would likely reinforce bearish momentum.
Downside support targets include:
1.1100 – Initial support
1.1050 – Next structural support
1.0980 – Long-term bearish target
Bullish Scenario (on breakout above 1.1230):
A confirmed breakout and daily close above 1.1230 would invalidate the bearish structure.
In that case, potential upside targets include:
1.1300 – Key resistance level
1.1370 – Higher resistance from previous reversal zones
Conclusion
The medium-term outlook for GBP/CHF remains bearish, with 1.1230 acting as a decisive pivot level. As long as price stays below this threshold, downside continuation toward 1.1100 and beyond remains favored. However, a clear breakout above 1.1230 on a daily closing basis would shift the sentiment and open the door for a bullish correction toward 1.1300–1.1370. Traders should monitor the 1.1230 level closely for directional confirmation.
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