GBP/CHF: 1-hour
Here’s an update on the GBP/CHF descending trend channel I showed y’all last week! The pair did bounce off the channel support around the 1.4500 major psychological level and seems to be headed for the top near the 1.4650 minor psychological resistance. Stochastic is moving higher but is almost in the overbought region, which means that sellers are ready to take control of forex price action. In that case, another move back to the bottom of the channel might be in the cards. Better set your stop above the 1.4700 handle if you’re thinking of taking a short trade at the resistance.
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