GBPCHF TECHNICAL ANALYSIS ON DAILY TIMEFRAME
GBP/CHF is having trouble making new highs above 1.2800, which isn’t surprising since the major psychological handle also lines up with an area of interest in the past.
Think we’ll see pound weakness against the franc? Don’t forget that a consolidation still represents uncertainty among buyers and sellers about where price is headed next. That means a downside move is not a done deal just yet!
The Fib levels on the daily chart make for good profit targets if you’re planning on shorting GBP/CHF.