GBP/CHF– Week 19 – Consolidating below the resistance

GBPCHF stayed for nearly one month in the range created by the resistance area at 1,28100 and the support at 1,25800. In the last days we had a bounce from the support area that reached the resistance and it looks like it is consolidating below it. Judging by the price action at this moment we give a higher probability for the price to break out of the trading range to the upside.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.