FX.co ★ GBPCHF Potential for Bearish Drop towards previous swing low

Description :

Looking at the H4 chart, my overall bias is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.

Looking for a pullback sell entry at 1.12724, where the overlap resistance and 50% Fibonacci line is. Take profit will be at 1.10481, where the previous swing low is. Stop loss will be at 1.14351, where the previous swing high is.

Trading Recommendation

Entry: 159.436

Reason for Entry: overlap resistance and 50% Fibonacci line

Take Profit: 1.10481

Reason for Take Profit:

Previous swing low

Stop Loss: 1.14351

Reason for Stop Loss:

Previous swing high