GBPCHF - In a clear resistance zone GBPCHF is approaching a significant resistance zone. This zone has consistently acted as a key area of interest where sellers regained control, leading to prior reversals. If the price confirms rejection through bearish price action, such as wicks signaling rejection or bearish engulfing candles, I anticipate a move downward toward the 1.12180 level.
However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and could open the door for further upside. Monitor price action closely at this critical resistance area.
Proper risk management is essential, given the possibility of price breaking higher. If you have anything to add or a different perspective, I’d love to hear from you in the comments!
