GBPCHF Technical Analysis: Weekly Chart

In the weekly charts, GBPCHF is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 1.20432 and the resistance level is at 1.23296

GBPCHF is trading in a downward channel until there is a trend reversal.

GBPCHF Technical Analysis: Daily Chart

In the daily charts, GBPCHF is trading within a rectangle.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 1.21442 and the resistance level is at 1.22722

GBPCHF is trading within a rectangle until there is a breakout or a breakdown.

How to trade GBPCHF this week:

GBPCHF is trading in a downward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 1.19440, TAKE PROFIT AT 1.16852, AND STOP LOSS AT 1.21038