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GBP/CHF signal for decline

Forex forecast/ GBP/CHF / Our expectations

Middle-term downtrend, lower tops. The price reached diagonal resistance, and made fake breakout afterwards pulled back below the resistance which indicates that the buyers are losing power. Also, the price fake broke FiBo 61.8 and pulled back below the level, which additionally supports the short. The price is moving in wide, long-term consolidation and in the moment the price is in the upper part of the channel. Price action signal: Pin bar at levels of diagonal resistance. CCI(50) – Turning down from zone of overbought – when break level 100 – the positive sentiment will starting to turn into negative.

Alternative scenario: If the price break over the diagonal resistance and make higher top, the negative scenario will be dismissed.

SL: 1.2860

Trader Bozhidar Arabadzhiev


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