GBP/CHF is moving in an upward channel, meaning the price has been going up while staying within a set range. Right now, it's sitting at the support level of the channel, which is an important point.
If the price breaks below this support, it could mean sellers are taking control, and the price may drop further, possibly down to 1.1100.
But if the support holds, buyers might step in, pushing the price back up and keeping it inside the channel. In that case, it will continue following the upward trend.
If the price breaks below this support, it could mean sellers are taking control, and the price may drop further, possibly down to 1.1100.
But if the support holds, buyers might step in, pushing the price back up and keeping it inside the channel. In that case, it will continue following the upward trend.
Trade closed: target reached
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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.
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.