Conclusion for today’s GBP CHF Analysis:
Price action is expected to continue its uptrend since January 10, 2019 and target the long term bearish trendline at ~1.33265
The Daily timeframe chart is examined in today’s GBPCHF analysis. Over 3 years of price action shows the Great British Pound selling off against the Swiss Franc from November 2015 to October 4, 2016.
Overall trend since October 4, 2016 to current date is identified in this analysis as a side trend with support present between 1.22592 and 1.21207.
Immediate resistance marked using the blue dotted line has currently being broken to the upside which implies further bullish momentum. Bearish trendline from November 2015 is also employed as overhead resistance or supply, and therefore a likely target for the bullish price swing from January 10, 2019.
Further assessment is required once and if price reaches resistance at 1.33265 which intersects the long term bearish trendline since November 2015.
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