GBP/CHF Decision Zone Is Triggered

Analyst, Full-Time Trader • Jul 9, 2021 at 9:15 AM EDT

GBP/CHF is at the decision spot. We should see either a breakout or a break below. It will depend on the market momentum.

We have had 4 lower lows which is a sign of a downtrend. However the diving board pattern has been formed. If we see the break of the trend line at 1.2640, the price will be bullish. The first target is 1.2675. However, a rejection down below the 1.2610 pivot point should spark some bearish momentum. Target is 1.2655. Watch for the move and trade the price action accordingly.

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