FX.co ★ GBPCHF facing bullish pressure, potential for further upside!

Prices are approaching ascending trendline support in line with horizontal swing low resistance in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push up towards horizontal swing high resistance in line with 78.6% Fibonacci extension. If prices push down, prices might take support from horizontal swing low support in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. Stochastics is also approaching 6.99 support level, potential for a bounce.

Trading Recommendation

Entry: 1.27054

Reason for Entry:

Horizontal swing low support, ascending trendline support. 61.8% Fibonacci extension, 78.6% Fibonacci retracement

Take Profit: 1.27845

Reason for Take Profit:

Horizontal swing high resistance, 78.6% Fibonacci extension

Stop Loss: 1.26775

Reason for Stop Loss:

Horizontal swing low support, 78.6% Fibonacci extension, 127.2% Fibonacci retracement