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 below zero which indicates bearishness.

The immediate support is at 1.20322 and the resistance level is at 1.23461

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 below its previous upward channel.

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

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

The immediate support is at 1.20982 and the resistance level is at 1.22227

GBPCHF is trading outside and below its previous upward channel.

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 1.19220, TAKE PROFIT AT 1.16356 AND STOP LOSS AT 1.21094