FX.co ★ ivory29 | GBP/CHF

Sellers managed to implement a pullback in the GBPCHF currency pair. After dropping to 1.0650, the decline slowed down and from here they could resume growth, with the first target for the bulls being the level of 1.0680. After consolidating above 1.0680, the price could move up to 1.0700-1.0710, and after successfully overcoming these levels, the path to 1.0740, 1.0775, and possibly up to 1.0805 could be open for the bulls. If sellers manage to hold below 1.0650, then they may continue the decline to 1.0620, but this also fits into the pullback scenario. When approaching 1.0620, one can consider opening a buy order. In case of consolidation below 1.0620, the advantage may shift to the sellers, and the GBPCHF price could drop to 1.0590, 1.0560, and probably reach 1.0530.