. GBPCHF Technical Analysis, Forecast and Trade Signals

GBPCHF Technical Analysis, Forecast and Trade Signals

09 Jun 2022

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 1.19550 and the resistance level is at 1.24398

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 MA (20) and MA (50) but below MA (100).

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

The immediate support is at 1.21845 and the resistance level is at 1.22972

GBPCHF is trading outside and above its previous 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 1.19000, TAKE PROFIT AT 1.15916, AND STOP-LOSS AT 1.20982