GBP/CHF bears are lurking below the hourly resistance structure. There are prospects of a significant downside retracement. GBP/CHF is meeting resistance and showing signs of exhaustion on the lower time frames. The following is a top-down analysis that illustrates the daily chart’s prospects and the lower time frame’s structure. Daily chart The daily chart is meeting resistance and there are prospects for a significant resistance with the 50% mean reversion marked as a reasonable downside target that has a confluence with old resistance. 4-hour chart The 4-hour chart’s 50% mean reversion is slightly higher meeting prior resistance. Hourly chart There was some slight divergence on the RSI but bears will want to see the 8 open vs the 8 close part ways again to confirm the bearish bias prior to looking for an optimal entry. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD drops towards 0.7600 amid risk-off mood, US dollar strength FX Street 8 months GBP/CHF bears are lurking below the hourly resistance structure. There are prospects of a significant downside retracement. GBP/CHF is meeting resistance and showing signs of exhaustion on the lower time frames. The following is a top-down analysis that illustrates the daily chart's prospects and the lower time frame's structure. Daily chart The daily chart is meeting resistance and there are prospects for a significant resistance with the 50% mean reversion marked as a reasonable downside target that has a confluence with old resistance. 4-hour chart The 4-hour chart's 50% mean reversion is slightly higher meeting prior resistance.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
