GBPCHF Technical Analysis: Weekly Chart

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

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

The immediate support is 1.21018 and the resistance level is at 1.24218

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 in an upward channel.

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

The immediate support is 1.21575 and the resistance level is at 1.22350

GBCHF is trading in an 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. If the price breaks down further, the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 1.20952, TAKE PROFIT AT 1.19244 AND STOP LOSS AT 1.22574