GBP/CHF: Poised for Potential Downtrend
GBP/CHF: Poised for Potential Downtrend
Price is testing the top of a structure zone where it has been rejected several times in the past.
We are likely to see a bearish wave again. This has also been supported by a large increase in the inflation rate. Switzerland reported April CPI +1.4% vs +1.1% expected on the year
The first support/Target zone will be found near 1.1230 and if the bearish trend continues I would be surprised to see GBPCHF testing also 1.1100
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Price is testing the top of a structure zone where it has been rejected several times in the past.
We are likely to see a bearish wave again. This has also been supported by a large increase in the inflation rate. Switzerland reported April CPI +1.4% vs +1.1% expected on the year
The first support/Target zone will be found near 1.1230 and if the bearish trend continues I would be surprised to see GBPCHF testing also 1.1100
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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