GPBCHF approaching resistance, potential drop!
GBPCHF is approaching our first resistance at 1.3160 (horizontal pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, short term descending resistance line) and a strong reaction might occur below this level, pushing price down to our major support at 1.2987 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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