Market Snapshots

GBPCHF Analysis 04 November, 2020

GBPCHF Analysis 04 November, 2020

• GBPCHF moving inside sideways price range

• Likely to fall to 1.1755                                                                                           

GBPCHF recently reversed down from the key resistance level 1.1940 (upper border of the narrow sideways price range from September).

The resistance area near the resistance level 1.1940 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from September.

GBPCHF is likely to fall further toward the next support level 1.1755 (lower boundary of the active sideways price range).

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