GBPCHF Technical Analysis: Weekly Chart

In the weekly chart, 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 1.19275 and the resistance level is at 1.24068

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

GBPCHF Technical Analysis: Daily Chart

In the daily chart, 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 1.20618 and the resistance level is at 1.22504

GBPCHF is trading in a downward 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 1.19110, TAKE PROFIT AT 1.16190, AND STOP LOSS AT 1.20982