Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Top' pushed the price lower
The market is consolidating along the Moving Averages. The main intraday target is the next resistance at 1.3253 - 1.3274. However, a pullback from this level could be a departure point for a downward correction.
There's a 'V-Top', which pushed the price lower. It's likely that the pair is going to achieve the nearest support at 1.3233 - 1.3213 soon. If a pullback from this area happens next, bulls will probably try to test another resistance at 1.3272 - 1.3291.
Sergey Logachev
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