FX.co ★ GBPCHF facing bullish pressure, potential for further upside!

Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see price bounce at 1st support, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support, and rise towards 1st resistance, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.27185

Reason for Entry:

61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support

Take Profit: 1.27712

Reason for Take Profit:

78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.26794

Reason for Stop Loss:

78.6% Fibonacci retracement and horizontal swing low support