GBP/CHF Technical Analysis 4H Chart
GBP/CHF is near to reach our Resistance Zone 1 at 1.2180 - 1.2200 which is inserted in the bigger and stronger Resistance Zone 2.
You should also have in mind that RSI is now at overbought levels. Because we can't predict the market, we should wait to see how it behaves and here are two possible scenarios:
Short:
-If price rejects the resistance zones, it might reverse and head to the Support Zone;
-If it consolidates and still makes a bearish move, also look for short entries;
Long:
-Price will most likely not break the resistances right ahead, so it may consolidate before any continuation of the trend. If it does, wait for a confirmation of the continuation, like a bullish move breaking that same consolidation and resistance zones.
Always use stop-losses, use a good risk management and remember this is not financial advice.
You should also have in mind that RSI is now at overbought levels. Because we can't predict the market, we should wait to see how it behaves and here are two possible scenarios:
Short:
-If price rejects the resistance zones, it might reverse and head to the Support Zone;
-If it consolidates and still makes a bearish move, also look for short entries;
Long:
-Price will most likely not break the resistances right ahead, so it may consolidate before any continuation of the trend. If it does, wait for a confirmation of the continuation, like a bullish move breaking that same consolidation and resistance zones.
Always use stop-losses, use a good risk management and remember this is not financial advice.
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