Descending Channel on EUR/CHF @ W1

A descending channel has formed on the weekly chart of the EUR/CHF currency pair and it now offers a bullish breakout opportunity. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. Stop-loss is to be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel) and isn't shown on this chart.

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Trade setup cancelled as the channel has been invalidated by a downside breach.