GBP/CHF tested a key demand area

GBP/CHF tested a key demand area

2019-11-11 • Updated

GBP/CHF is looking to resume the bullish bias across the board, following a fall held since April 18, where a resistance area has been established around 1.3855. The pair already made a rebound above the Fibonacci level of 50% at 1.3600, which is also a key psychological zone. If the move gets sustained for the short-term, then we would expect a rally towards the -23.6% Fibo level at 1.3972. However, if the pair manages to break below 1.3600, it can plummet towards 1.3454 (Fibo area of 78.6%).

RSI indicator is hovering around overbought territory.



Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

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GBP/USD Near Supply Zone

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