GBPCHF Technical Analysis: Weekly Chart

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

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

The immediate support is at 1.21565 and the resistance level is at 1.23332

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 trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is 1.21572 and the resistance level is at 1.22664

GBPCHF is trading below and outside its previous upward channel until there is a trend reversal.

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 1.20915, TAKE PROFIT AT 1.18684 AND STOP LOSS AT 1.22526