GBP/CHF– Week 26 – Incoming down move?

This pair is moving in a trading range for the last couple of months. In our last analysis, a few weeks ago, we gave a good probability for a move to the upside that will reach the resistance area once again and it happened. Now, after the resistance was reached on the 24th of June, we had a sharp drop followed by a correction. We give a higher probability for the price to break to the downside. However, before that happens a reasonable scenario is one where the resistance is touched/broken one more time, so be careful and don’t jump into candles if you’re trading this pair.

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.