GBPCHF Technical Analysis: Weekly Chart

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

It is trading above MA (5) but below MA (20) and MA (50).

The immediate support is 1.21018 and the resistance level is at 1.24088

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 above its previous downward channel.

It is trading above all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 1.22202 and the resistance level is at 1.22886

GBPCHF is trading outside and above its previous downward channel.

How to trade GBPCHF this week:

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

TRADE SUGGESTION: BUY AT 1.23342, TAKE PROFIT AT 1.24658 AND STOP LOSS AT 1.22268